Deal: Bail-out for Austrian Airlines

More+More+ ♦ Published: June 8, 2020; 14:04 ♦ (Vindobona)

According to media reports, AUA Austrian Airlines is to receive a total of EUR 600 million and thus retain its Austrian headquarters.

AUA Austrian Airlines: The Republic of Austria and the Lufthansa group agreed on a rescue pact. / Picture: © Austrian Airlines / Flickr Attribution-NonCommercial-ShareAlike 2.0 Generic (CC BY-NC-SA 2.0)

Reports in the media " Austrian Broadcasting Corporation (ORF)", " Standard", "Presse" and "Kurier" state that the rescue of Austrian Airlines, the Austrian subsidiary of Deutsche Lufthansa AG, has been fixed. 

Austrian Airlines will receive EUR 450 million from the Republic of Austria, EUR 300 million of which as a loan guarantee and EUR 150 million as equity.

A further 150 million euros will be provided by Lufthansa.

In total, the airline will thus receive 600 million euros.

According to the reports, the Austrian state is not planning to participate in either AUA or Lufthansa.

According to the reports, the government wants to announce the rescue later today.

Carsten Wilfried Spohr, Chairman of the Board of Lufthansa AG, is expected in Austria this evening.