Austrian government sells off flag carrier
Loss-making flag carrier Austrian Airlines is up for sale.
Austrian finance minister Wilhelm Molterer said the government planned to sell part of its 43% stake in the beleagured airline to another carrier.
Government holding company OeIAG has set aside two months to listen to offers and will decide by the end of the year who will be the successful purchaser.
However, there are tight restrictions on the purchase. Some 25% of Austrian must stay in the hands of Austrian core shareholders, the brand must stay in tact, the HQ must still be in Austria and the main hub must remain at Vienna.
Likely contenders include Lufthansa, Air France-KLM, Turkish Airlines and Aeroflot.
By Dinah Hatch
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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