AUSTRIAN AIRLINES IMPLEMENTS FURTHER MEASURES TO INCREASE COMPETITIVENESS

04.07.09 - 06:56 ... source : Austrian Airlines

... Targeted cost reduction to produce medium-term improvement in result – complete restructuring of company – around 1,000 fulltime-jobs to be cut Having already fulfilled its ambitious package of short-term measures designed to generate savings of EUR 225 million this year, the management of Austrian Airlines is now confronting the challenge of improving the company's result in the medium term. To achieve an EBIT margin of 6-7%, the standard in Europe, the company needs to produce an improvement in its result worth some EUR 200 million by 2012. This will be done on a staged basis. Commenting on the measures to come, Dr. Andreas Bierwirth and Dr. Peter Malanik, Austrian's Chief Commercial Officer and Chief Operations Officer respectively, said the following: "Although our ability to achieve this objective is now being hampered by the fact that the global economic crisis ...» Next (HTML)