Austrian Airlines is in negotiations with the Government regarding state aid between 500 and 800 million EUR to save jobs and keep Vienna as a transfer hub for long-distance flights, the Austrian airline announced, adding that discussions are in a preliminary stage and could last several weeks.
Austrian Airlines, a subsidiary of the German Lufthansa group, announced that layoffs could occur.
Lufthansa, which closed the low-cost operator Germanwings, reduced the number of flights and working hours in an attempt to cope with a health crisis that forced governments to impose draconian travel restrictions.
Source: Economica
Frequently Asked Questions
How much state aid is Austrian Airlines requesting?
The airline is negotiating for a state aid package valued between 500 and 800 million EUR.
Why is this aid necessary for the airline?
The funds are intended to save jobs and ensure Vienna remains a key transfer hub for long-haul flights during the travel crisis.
Is Austrian Airlines part of a larger group?
Yes, Austrian Airlines is a subsidiary of the German aviation giant, Lufthansa Group.