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New Lufthansa and Austrian Airlines partnership

Sunday 28 Dec 2008 7:49am

Austrian Airlines has announced that it expects to fly into a 'new future' after the German airline Lufthansa bought a 42 per cent share in the Austrian Airlines from former owner OIAG. On December 5th, Austria's national industry stockholding corporation, OIAG, held a supervisory board meeting and signed a contract to sell its share to Lufthansa. The signing of the agreement concludes the bidding process, which began in August. Chief executive officer of OIAG, Peter Michaelis, described the sale as 'the right decision' for Austrian Airlines, adding that a partnership with Lufthansa would 'consolidate the status of Austrian Airlines as a leading carrier in central and eastern Europe'. Wolfgang Mayrhuber, Lufthansa's chairman, commented: 'Europe needs a strong aviation sector. Only by combining our powers can we hope to find an answer to the global challenges currently facing our industry. ' Mr Mayrhuber added that creating an alliance of profitable European airlines would be the only way to successfully meet the growing demands of customers. Despite the new deal, Austrian Airlines will remain largely independent, retaining its current brand, fleet and crew. This will see the airline continue its presence in the long-haul and European aviation sectors.

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