Combined Management Report

Note on forecasts

The business outlook assumes that the domestic and international economy and air traffic will not be impaired by external shocks such as terror attacks, wars, further pandemics, natural disasters, or substantial turbulence on the financial markets. They are based on the IFRS accounting standards to be applied in the EU at the beginning of the 2023 fiscal year (see also Group notes, note 4).

The “Risk and opportunities report” covers risks and opportunities that are not factored into the business outlook and that may result in significant negative or positive changes to the forecasted development.