Austrian Airlines set to remain independent

It appears as though Austrian Airlines will likely remain independent in the near future and will avoid mergers with any other carriers, now that Austria’s Finance Ministry has determined that this approach would best serve the country’s flag carrier. Wilhelm Molterer, the Central European country’s finance minister, told journalists that his preference was for Austrian Airlines to remain independent, even though a major deal that would have seen a foreign investor pump much needed funds into the airline may still end up falling through. Molterer said that he wants a “red-white-red airline,” referring to the colour pattern of Austria’s flag. The Austrian minister made these statements while participating in a euro zone conference organized in Brussels.

There is still, however, a possibility that a Sheik Mohamed Bin Issa al Jabar may end up purchasing up to 20 percent of Austrian’s shares. If the deal actually goes through, the sheik would invest approximately €150 million in Austrian Airlines. Yet Molterer said that his preference would be for Austrian Airlines to remain fully independent, but he noted that it would be necessary to ensure the carrier’s economic success over the long-term. “It has always been my position that if this is possible on a standalone basis, then that is fine,” Molterer told journalists, but he also pointed out that other options were clearly possible.

Austrian Airlines is based at the Vienna International Airport (VIE) and maintains an especially strong presence in Eastern Europe, as well as in the Middle East.

www.aua.com