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Austrian Airlines: Austerity Program Not Finished
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In the first nine months, AUA´s operating income was positive. However, the restructuring process will go on.
Austrian Airlines: Austerity Program Not Finished / Picture: © Austrian Airlines / Flickr Attribution-NonCommercial-ShareAlike 2.0 Generic (CC BY-NC-SA 2.0)
The Austrian subsidiary of German Lufthansa has not achieved its restructuring goal yet. What is more, Lufthansa Group faces an enormous pressure from competition. As a result, the airline group´s profit marge decreased steadily in the last quarters. According to CEO Christoph Franz, an operating margin of 3.1% is too low in order to make investments and to secure the long-term…
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