October 6, 2005

Asiana Airlines has decided to deploy the revenue accounting system Sirax from Lufthansa Systems and will work in close cooperation with Asiana IDT, Asiana Airlines’ IT subsidiary. The three companies have now signed a contract to that effect. This step will enable the Korean carrier to speed up its accounting process and increase revenues. At the same time, the revenue accounting solution will deliver upto- the-minute and detailed information for the management and the accounting division.

The revenue accounting system Sirax controls and manages an airline's accounting process by performing a fully automatic check of ticket sales against specific flight data. Based on this check, the actual revenues are then calculated within a very short timeframe. Sirax' high degree of automation reduces potential losses caused by inadequate fare calculation. The solution also allows for the paperless billing of interline flights and is thus yet another step in implementing IATA's initiative “Simplifying the Business”.

"This complete solution from Lufthansa Systems enables us to improve the quality and management of our accounting processes. We expect the software's high degree of automation to deliver significant cost savings and revenue increases. We were particularly impressed by the comprehensive know-how demonstrated by the revenue accounting experts of Lufthansa Systems," says Byung-Wui Ghil, chief financial officer Asiana Airlines.

The implementation project started in May 2005, with completion scheduled for January 2006. Lufthansa Systems and Asiana IDT will jointly operate Sirax for Asiana Airlines for five years. While Asiana IDT will take care of hardware operation and system administration, Lufthansa Systems together with Lufthansa Revenue Services will be responsible for implementation, continued development and maintenance.

Asiana Airlines is yet another Star Alliance member to deploy the Sirax revenue accounting system. "This cooperation is a further step towards establishing Sirax as the new, common revenue accounting platform in the world's largest airline partnership," explains Dr. Gunter Küchler, managing director Lufthansa Systems. "With this agreement, we continue to expand our business relationship with Asiana Airlines and Asiana IDT and strengthen our position in the Asian market."

Asiana IDT and Lufthansa Systems can already look back on a successful cooperation: Asiana Airlines has been using the Aerospace & Defense industry solution since 2004 to optimize its MRO (Maintenance, Repair & Overhaul) business processes.

Note to editors:
Lufthansa Systems is one of the leading IT service providers for the airline and aviation industries worldwide. As systems integrator, the wholly-owned subsidiary of the Lufthansa Group covers the entire range of IT services, including consulting, development, implementation and operation. Lufthansa Systems provides its IT infrastructure and operations services to a variety of industries. Headquartered in Kelsterbach near Frankfurt/Main, Germany, the company has branches in Germany and 17 countries and employs about 4,500 people worldwide. In business year 2004, Lufthansa Systems recorded sales of EUR 628 million.