Lufthansa To Buy Major Stake In Austrian Airlines | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

 Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.29.24

Airborne-Unlimited-04.23.24

 Airborne-Unlimited-04.24.24 Airborne-FltTraining-04.25.24

Airborne-Unlimited-04.26.24

Mon, Dec 08, 2008

Lufthansa To Buy Major Stake In Austrian Airlines

Austrian State Holding Company Agrees To Sale

At a special board meeting on Friday, Austrian state holding company OeIAG voted to approve the sale and signed a 366,000 euro contract releasing its 41.56 percent stake in Austrian Airlines (AUA) to Lufthansa.

The contract provides for AUA to keep its long-distance routes, corporate name, and headquarters at the Vienna International Airport, where it is staffed with approximately 8,000 employees.

Lufthansa projects the merger will save the airlines nearly 80 million euros annually, Xinhua reported.

The new arrangement provides much-needed relief to the strapped AUA. Last July it announced estimated net losses of 70 million to 90 million euros for the year, adding to the 900 million in previous debts, which were partly due to huge increases in fuel costs.

With its partners Lauda Air and Austrian Arrows, AUA operates a fleet of 100 aircraft with 130 destinations worldwide.

FMI: www.austrianairlines.co.at/eng, www.lufthansa.com/online/portal/lh/us

Advertisement

More News

ANN's Daily Aero-Term (04.26.24): DETRESFA (Distress Phrase)

DETRESFA (Distress Phrase) The code word used to designate an emergency phase wherein there is reasonable certainty that an aircraft and its occupants are threatened by grave and i>[...]

Aero-News: Quote of the Day (04.26.24)

"General aviation is at the forefront of developing and introducing innovative technologies that will transform the entire aviation industry..." Source: Kyle Martin, Vice President>[...]

ANN's Daily Aero-Term (04.27.24): Direct

Direct Straight line flight between two navigational aids, fixes, points, or any combination thereof. When used by pilots in describing off-airway routes, points defining direct ro>[...]

ANN's Daily Aero-Linx (04.27.24)

Aero Linx: Women in Corporate Aviation Women in Corporate Aviation support individuals seeking career advancement and professional development in the business aviation industry. Me>[...]

Aero-News: Quote of the Day (04.27.24)

“We would like to thank the many volunteers that help throughout the year to pull off the event, as well as the several reviewers, judges, and SURVICE staff that provide team>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne 04.29.24: EAA B-25 Rides, Textron 2024, G700 Deliveries

Airborne 04.26.24: Beta Alia 250, SPEEA v Boeing, Anti-Av Climate Attacks

Airborne-Flight Training 04.25.24: eDA40 Progress, LIFT-Tuskegee, U of OK

See All

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC