New Savings Package for Austrian Airlines

TransportAirlines & Airports ♦ Published: December 2, 2011; 16:17 ♦ (Vindobona)

The Austrian carrier will not receive financial support from its parent company Lufthansa. Staff reductions are not ruled out any longer.

New Savings Package for Austrian Airlines / Picture: © Austrian Airlines / Flickr Attribution-NonCommercial-ShareAlike 2.0 Generic (CC BY-NC-SA 2.0)

Austrian Airlines’ planned cost cuts of € 100m this year will not be sufficient to achieve the company’s plan of returning to black figures. Due to the new economic crisis, the airline might slip even further into the red. Financial support from the German group parent Lufthansa cannot be expected. CEO Christoph Franz announced that AUA will have to implement additional savings…