Austrian Airlines has received a capital injection of up to €140m from parent company Lufthansa following the approval of its Work Programme. The funds will be used to harmonise its medium-haul fleet and the consequent restructuring. The airline will remove 11 737s from its fleet and acquire seven A320 family aircraft.
Austrian Airlines will continue to be called Austrian Airlines after the restructuring phase, operating a fleet of 80 aircraft to 130 destinations. The carrier is however developing a new route network plan "with a strategic orientation to our home market of Austria and strong Eastern European markets".
The airline has succeeded in making cost reductions of €180m by new agreements with partners, an adjusted route network and harmonisation of the fleet.
Austrian Airlines get €140m capital injection from Lufthansa
