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Airline Finance News - Europe.

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Austrian Airlines Group

Austrian Airlines Group is under increasing pressure to stabilize its negative financial situation. "Austrian has a chance to survive. The only problem I see is that we are running out of time," new CEO Alfred Oetsch said. The group narrowed its first-quarter adjusted net loss before taxes to [euro]67.7 million ($83.7 million) from [euro]76.8 million in the year-ago period after losing [euro]129.1 million for all of 2005. Austria's der Standard reported that Oetsch is proposing several measures to get the airline's finances in order, including introducing a new business class on long-haul flights starting in July and lowering management salaries. He warned that layoffs may become necessary. May 25, 2006

Austrian Airlines Group

Austrian Airlines Group flew 1.93 billion RPKs in April, a 17.5% increase over the year-ago month. Capacity climbed 11.4% to 2.59 billion ASKs, lifting load factor 3.8 points to 74.5%. May 23, 2006
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Publication:Airguide Online
Article Type:Brief article
Geographic Code:4EUAU
Date:May 29, 2006
Words:179
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