Whereas in the previous year the airline carried around four million passengers between April and June, this figure was only 53.000 in 2020.
As a result of the coronavirus crisis and the cessation of Austrian Airlines‘ flight operations for a period of close to three months, Austria’s national carrier generated adjusted earnings before interest and taxes (adjusted EBIT) of minus EUR 99 million in the second quarter of 2020, down from positive results of EUR 46 million in the prior-year quarter.
Accordingly, the adjusted EBIT for the first half of 2020 equaled minus EUR 235 million. The number of passengers carried by Austrian Airlines fell by 70 percent to around 2 million due to the pandemic.
With the exception of humanitarian cargo flights, the second quarter consisted of practically only two weeks of minimum operations in June.
Revenue slumped by 94 percent to EUR 35 million
During the same period, total revenues fell by 90 percent to EUR 59 million (Q2 2019: EUR 610 million).
Total expenses for the same period amounted to EUR 158 million, a decrease of 72 percent (Q2 2019: EUR 565 million) compared with the same quarter of the previous year.
Adjusted EBIT ultimately amounted to EUR -99 million in the second quarter (Q2 2019: EUR 46 million).
