Company Watch - Lufthansa.Oct 9, 2006 Austrian Airlines Austrian Airlines AG is the flag carrier airline of Austria, headquartered in Vienna. It operates scheduled sevices to over 130 destinations. Its main base is Vienna International Airport, with a hub at Innsbruck Airport.[1] In 2006 Austrian had 10 million passengers. To Raise USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $445 Mln After Losses. Loss-making Austrian Airlines plans to raise EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 350 million euros (USD$445 million) in a rights issue backed by key shareholders to underpin a return to profitability, the carrier said on Tuesday. Austrian Airlines said it will offer up to 68 million new shares in the rights issue at close to market prices, probably this year. The Austrian government and a group of Austrian banks will fully subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; the issue, Austrian said. Austrian had a net loss of EUR129.1 million (USD$164.2 million) last year and in July scrapped its plan to break even this year, predicting another loss as fuel prices rose. The carrier could not even hedge against high fuel prices recently because its share capital base was too thin to underpin such hedges. Austrian media speculated for months that a bigger rival could buy a stake in Austrian and inject fresh cash, mentioning Germany's Lufthansa and Air France Air France in full Compagnie Internationale Air France French passenger and cargo airline with more than 200 destinations in some 80 countries. It introduced supersonic Concorde service in 1976, but financial loss led the company to cease its Concorde as potential buyers. But Austria's government as well as the chief executives of several large companies said an independent Austrian Airlines with its central European network was an important factor for Vienna as a financial and business hub for the region. Austria owns 39.7 percent in the struggling carrier. A consortium including Bank Austria Creditanstalt, Vienna Insurance Group, Raiffeisen Zentralbank and BAWAG BAWAG Bank für Arbeit und Wirtschaft (Austria) P.S.K. owns 10.3 percent. Oct 3, 2006 Another switch, this time in Philadelphia. Lufthansa now files out of Terminal A-West. Oct 2, 2006 Lufthansa Technik signed a five-year Total Technical Support contract with Nigerian startup Arik Air covering two 737-300s, three CRJ CRJ Canadair Regional Jet CRJ Chiropractic Research Journal CRJ Commission for Racial Justice CRJ Cylinder Reduction Jumper 200s and three CRJ900s. Arik plans to launch Oct 17, flying from its Lagos base to 10 domestic and three international destinations. It plans to start intercontinental service next spring. Lufthansa CityLine will provide line maintenance and engineering services on the Regional aircraft. Oct 6, 2006 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Oct 2, 2006 |
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