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Vienna International Company News
Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
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Foreign Direct Investment into Austria Last Year Still Unbroken
According to the Austrian Business Promotion Agency for foreign corporate investors, 462 international companies with an investment volume of 1.85 billion euros were still being supported in 2019 in establishing a business in Austria. This resulted in the creation of almost 5,000 new jobs.
July 27, 2020
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Austrian Chamber of Commerce Promotes Business with Sri Lanka and Bangladesh
The WKO Austrian Federal Chamber of Commerce offers the opportunity to participate in a webinar on the opportunities for Austrian and European companies in the two countries Sri Lanka and Bangladesh with and after COVID-19.
July 27, 2020 · Sponsored Content
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Indo-Austrian Trade and Investment Opportunities Post Covid-19
The FIEO - Federation of Indian Export Organisations is organising an interactive video conference session on “Trade & Investment Opportunities between India & Austria - Post Covid-19” with H.E Mr. Jaideep Mazumdar, the new Ambassador of India to Austria on Tuesday, 29th July, 2020.
July 13, 2020 · Sponsored Content
New Luxury Hotel To Come To Vienna: The Mandarin Oriental Vienna
The Mandarin Oriental Hotel Group, a Southeast Asian hotel chain that operates luxury 5-star hotels, is establishing a hotel in Vienna and invests 100 million euros.
July 8, 2020
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Harald Mahrer Remains Austrian Federal Economic Chamber President for Another Five Years
Harald Mahrer was re-elected President of the Austrian Federal Economic Chamber (WKÖ) at the Economic Parliament and was immediately praised by Margarete Schramböck, Federal Minister for Digitalisation and Business Location.
June 26, 2020
ABA - Invest in Austria: 270 Attendees at Austrian Business Agency Event
According to "ABA - Invest in Austria: Austrian Business Agency", 270 companies interested in investing in Austria took part in the first virtual open day to learn about new business models and general conditions for foreign companies in Austria during and after the Corona crisis.
June 25, 2020
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Novartis Opens Production Facility for Innovative Eye Retina Product in Tyrol
The pharmaceutical company Novartis is investing EUR 27.4 million in the Kundl site in Tyrol to produce an active ingredient for a new therapy for wet age-related macular degeneration with 40 employees.
June 20, 2020
Powerful Federation of Austrian Industrialists Has a New President
The Federation of Austrian Industry, the lobby of 4,200 voluntary members and owners of Austrian industrial and industry-related companies, has elected a new president in Georg Knill.
June 19, 2020
Another COVID Casualty: Austrian Airline Discontinues Fight Operations
The Austrian low-cost airline "Level" and subsidiary of British Airways (IAG International Airlines Group) has discontinued flight operations with immediate effect. The airline was hit hard economically by the consequences of the Covid 19 pandemic in Europe. A continuation of flight operations is not planned. About 200 employees in Vienna are affected by the bankruptcy.
June 19, 2020
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Austrian Airlines Deal: EUR 450 Million for Vienna Hub Guarantee
The Lufthansa subsidiary 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.
June 9, 2020
Croatia Welcomes Announcement of the Opening of the Austrian Border
After heavy criticism from Croatia, and after Austria was accused of sabotaging the tourist season in Croatia, the Croats now welcome the imminent opening of the border.
June 9, 2020
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Deal: Bail-out for Austrian Airlines
According to media reports, AUA Austrian Airlines is to receive a total of EUR 600 million and thus retain its Austrian headquarters.
June 8, 2020
Investing in Vienna: All-time High for the Settlement of International Companies
In 2019, the City of Vienna in cooperation with the Austrian Business Agency (ABA) was able for the eighth time in a row to set a new settlement record with 266 international companies settling in the city. With 25 companies settling in Vienna, the USA came second in the list of the ten most important countries of origin, behind Germany with 61 projects.
June 2, 2020
New Chief Financial Officer at Allianz Group Austria
German-born Anne Thiel (49) is to take over as CFO of Allianz Group Austria on September 1, 2020. She succeeds Eva Meyer-Schipflinger, who will take over a global management position at Allianz SE in Munich.
May 30, 2020
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Properties for Development in Austria: Location, Location, Location
Property prices in Austria (average property prices and house price index) continued to show high price dynamics last year. The current average prices for plots, houses and apartments for development can be found below.
May 30, 2020
Austrian Airlines to Resume Flight Operations on 15 June
After an interruption of almost three months, Austrian Airlines will resume flight operations to selected destinations in Europe and Tel Aviv from mid-June onwards. Since no neighbouring seats will be kept empty in case of demand, bold passengers will again be able to fly to up to 40 destinations by the end of June. For specific destinations, see below.
May 28, 2020
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Austrian Summer Tourism: Total Dependence on Germany
A recent study shows the great dependence of Austrian summer tourism on Germany, especially in the western federal provinces. The situation, which has been further intensified by the corona pandemic, will further increase this certainty.
May 25, 2020
Investing: Why Your Company Should Establish a Branch in Austria
Every crisis also opens up opportunities e.g. to revise your current strategy and to develop a new one - and time to consider new markets to expand to. Austria stands out in Europe as a highly developed business location and has weathered the crisis well so far.
May 22, 2020
Ryanair's Laudamotion to Close Vienna Base
Laudamotion closes its base in Vienna on 29 May, 300 people lose their jobs. The trade union Vida did not agree to an ultimatum by the airline, which would have brought a new collective agreement with significantly lower wages.
May 22, 2020
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Drastic Drop of over 99% in Passengers at Vienna International Airport
The worldwide travel restrictions and flight cancellations resulting from Covid-19 have had a major impact on the development of traffic and earnings AT Vienna International Airport (Flughafen Wien Group). In April, the Group recorded a decline of 99.6% in the number of passengers and 99.5% at Vienna International Airport. Revenues for Q1/2020 fell by -9.0% to € 161.4 million.
May 20, 2020
COVID-19 Drug Made in Austria
Austrian biotech company Apeiron Biologics AG, which is currently working on a drug to treat the coronavirus, announces financing round for the further development of the COVID-19 drug APN01.
May 19, 2020
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Corona Short-time Work in Austria: Funds to be Increased to 12 Billion
Minister of Finance Gernot Blümel announced that the budget for coronavirus short-time work will be increased from ten billion to twelve billion euros.
May 19, 2020
Austria Becomes Self-sufficient in the Supply of Mouth and Nose Masks
Hygiene Austria LP GmbH, founded only 4 weeks ago by a cooperation of Lenzing AG and Palmers Textil AG with the aim of producing and selling protective masks for the domestic and European market, was made known to a wider public today by the visit of Federal Chancellor Kurz and Minister of Labour Christine Aschbacher, and two weeks ago by the visit of Federal Minister Margarete Schramböck.
May 19, 2020
War for Global Telecom Infrastructure Supremacy: Vienna first EU Capital with Area-wide 5G Network
While the Third World War is raging backstage between the USA and China for world supremacy in 5G infrastructure, Huawei wins another milestone in Vienna. Digital City Councilor Peter Hanke has set the goal "Vienna should become the first city in Europe with a complete 5G network". The city is supporting the network expansion with 20 million euros.
May 18, 2020
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Austria Agrees to ESM Pandemic Crisis Support
The National Council has given its approval for financial aid within the framework of the ESM. Specifically, Finance Minister Blümel was authorized to approve a decision in the ESM Board of Governors to grant corona financial aid to all applicant ESM member states within the framework of the ESM Pandemic Crisis Support.
May 14, 2020
Austria and Germany Agree to Open Borders on 15 June
The gradual opening of the borders between Austria, Germany and Switzerland will begin as early as Friday. From May 15th onwards there will only be spot checks at the borders between Austria and Germany, both countries announced. From 15 June, the borders are to be opened completely. Opening to Italy is not an issue for the time being.
May 13, 2020
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Tax Consultants and Auditors: Corona Aid Fund for Fee Losses Threatening their Existence
The Austrian Chamber of Tax Consultants and Auditors (KSW), which represents 8,000 Austrian tax consultants and auditors, is setting up a 2 million euro aid package.
May 12, 2020
Hotel Sacher Vienna: New Director is a German Again
Reiner Heilmann, the long-standing director of the Hotel Sacher in Vienna, hands over the management of the hotel to 35-year-old hotel manager Andreas Keese.
May 12, 2020
Viennese Public Transit Network: Normal Service Again from 18 May
The Viennese Lines (Wiener Linien) increased their operations further on 11 May. Normal service with peaks of up to two minutes is planned again from 18 May.
May 11, 2020
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Coronavirus: Vienna Airport Offers Tests to Avoid 14-Day Quarantine in Austria
Coronavirus PCR tests on site at Vienna Airport for € 190 (incl. VAT) - no quarantine necessary if results are negative.
May 11, 2020
Coronavirus in Austria: Live-Ticker (Our live coverage has now concluded)
This live ticker has been terminated. Our live coverage has now concluded.
May 1, 2020
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Financier Ronny Pecik Appointed Chief Executive Officer of Immofinanz
Croatian-Austrian star investor and largest single investor becomes CEO of commercial real estate group Immofinanz AG.
April 23, 2020
Vienna International Airport: 98 Percent Fewer Passengers
Vienna International Airport (Flughafen Wien AG) is currently registering a decline of 98% in the number of passengers and the workforce is on short-time working. The airport is therefore cancelling the dividend for 2019 and launching a savings programme of over € 220m.
April 17, 2020
Austrian Airlines Extends Short-Time Work and Temporary Cessation of Flight Operations
Due to the global developments in connection with the Coronavirus and the continuing restrictions on travel, Austrian Airlines is extending the short-time working model for its 7,000 employees by a further month until May 19, 2020. Also, Austrian Airlines prolongs the cessation of its regular scheduled flight operations for an additional two weeks until May 17, 2020.
April 17, 2020
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Easier Access to Austria for Commuters from Abroad
"Ongoing consultations with Austria's neighbouring countries are making life easier for commuters from abroad", says European Affairs Minister Karoline Edtstadler.
April 14, 2020
Review of the Austrian Repatriation and Emergency Flights Programme
A total of more than 7,500 persons were brought back safely to Austria in 39 flights organised by the Foreign Ministry.
April 13, 2020
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Self-Sufficiency in COVID-19 Mask Production
A first step towards Austrian self-sufficiency in mask production for medical protective equipment was taken. In future, it should be possible to produce up to 500,000 corona protective masks of the "Made in Austria" brand every day.
April 8, 2020
India and Slovak Republic Rejoin Global Research Institute IIASA
The two former member countries India and Slovak Republic have rejoined the international Research Institute "IIASA - International Institute for Applied Systems Analysis" in Laxenburg near Vienna in recognition of their mutual benefits of scientific collaboration in a broad field of activities of global concern and interest.
April 8, 2020
Federal Chancellor: "The situation is still serious"
Austrian government presents details of the aid package designed to save jobs and businesses.
March 26, 2020
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Climate Change - Austrian World Summit Postponed
Arnold Schwarzenegger's ambitious climate project in Vienna falls victim to the coronavirus and has to be postponed until autumn.
March 24, 2020
Voestalpine: Short-time Work in 50 European Subsidiaries
The biggest economic challenge of the past decade represented by the coronavirus pandemic has hit the Austrian technology group Voestalpine hard. Short-time work in Austria and other European countries such as Germany, Belgium and France is unavoidable due to the slump in demand.
March 24, 2020
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Budget Statement: Do What Is Necessary
Finance Minister Blümel: "No one knows how long this crisis will last. No one knows what effects it will have. But we do know that we will do everything we can to maintain the health of Austrians, to secure jobs and to carry the location through the crisis. Whatever the cost."
March 20, 2020
Austrian Government Says It is Prepared to Pump Virtually Unlimited Money into Economy
The Federal Government announced today that an aid package of up to 38 billion euros is being prepared to deal with the consequences of the coronavirus.
March 18, 2020
Coronavirus Prohibitions in Austria - Which Shops and Services are still Open?
Many people are confused due to the short-term decision to prohibit access to the customer area of business premises of retail and service companies as well as leisure and sports businesses, and wonder which essential items and services of daily life are still available. Below is a current list in force since Monday, 16 March 2020.
March 17, 2020
Laudamotion Ceases Air Operations
Following today's announcement that Austrian Airlines will cease flight operations with effect from Wednesday, Ryanair's subsidiary Laudamotion will cease flight operations with immediate effect.
March 16, 2020
Austrian Airlines Terminates Flight Operations
Austrian Airlines is temporarily suspending its regular flight operations from Wednesday night. The last flight will arrive in Vienna on Thursday morning from Chicago. All further flights until at least March 28, 2020, or "until further notice" are cancelled. The airline is aware of its responsibility, will cooperate with the Austrian government and try to bring home as many Austrians as possible. One long-haul and one medium-haul aircraft will remain in use for emergency and relief flights.
March 16, 2020
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Coronavirus Crisis in Austria: Four Billion Euro Package for the Economy
The Austrian government today cancelled the budgetary "zero deficit" for 2020 and announced the provision of four billion euros for immediate measures.
March 14, 2020
Coronavirus: Profit Warning Issued by Vienna International Airport - Reduced Working Time Planned
Travel restrictions and the resulting massive reduction in the number of scheduled flights at Vienna International Airport severely depress revenues and annual results for 2020.
March 12, 2020
Slump in Passenger Numbers at Vienna International Airport
While Vienna International Airport (Flughafen Wien Schwechat) recorded an increase of 8.3% in the number of passengers to 2 million in February, the coronavirus crisis led to a decline of roughly 30% in the number of passengers in March 2020, and this trend is expected to continue.
March 11, 2020
Etihad Airways Adds Abu Dhabi-Vienna Route to its Programme
In times of the coronavirus, when flights are being cancelled, it is encouraging that Etihad Airways will start a non-stop connection between Vienna and Abu Dhabi on 22 May 2020.
March 11, 2020
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