Austrian Airlines, facing high fuel prices, to see loss in 2008
Austrian Airlines AG says it expects to see a net loss of up to euro90 million ($141 million) in 2008 due to skyrocketing fuel prices.
By Agencies |
VIENNA: Austrian Airlines AG says it expects to see a net loss of up to euro90 million ($141 million) in 2008 due to skyrocketing fuel prices.
The carrier says in a statement late Monday that it is facing euro130 million ($203.4 million) in additional costs for kerosene and that a positive net result is therefore not achievable in 2008. The statement also refers to the current level of the US dollar, which has substantially fallen in value.
The airline says its net loss for the financial year 2008 will be between euro70 million ($110 million) and euro90 million ($141 million). It says its forecast for 2009 is strongly dependent on the continuing trend in fuel prices.
The carrier says in a statement late Monday that it is facing euro130 million ($203.4 million) in additional costs for kerosene and that a positive net result is therefore not achievable in 2008. The statement also refers to the current level of the US dollar, which has substantially fallen in value.
The airline says its net loss for the financial year 2008 will be between euro70 million ($110 million) and euro90 million ($141 million). It says its forecast for 2009 is strongly dependent on the continuing trend in fuel prices.
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