Austrian Airlines: EU Commission reached agreement with Lufthansa
Lufthansa just about to finalise Austrian-takeover Lufthansa Group has overcome another important obstacle to take over Austrian Airlines. The EU Commission reached an agreement with the airline about the conditions for the merger. Thus another basis for the positive conclusion of the future partnership was set. At the same time clear signals for a positive decision were set in the course of aid proceedings. It was quite likely that the merger will be settled formally in August, and that the closing will take place also in August or in September at latest. Afterwards the Austrian Airlines Group was a member of the Lufthansa Group and hence part of Europe’s largest airline, as the Austrian CEOs Andreas Bierwirth and Peter Malanik announce in a press release on 31 July. The Managers expect the integration of the Austrian Airlines Group into the Lufthansa Group to substantially improve revenues and considerably affect costs, thanks to advantages regarding size in purchase and the development of joint systems. In total, this shall considerably improve competitiveness of Austrian Airlines. Quelle: Österreichische Verkehrszeitung |