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Austrian Airlines to cut costs in order to compete against budget airlines Austrian Airlines has announced a new austerity plan in the wake of losses due to stiff low-cost competition: Threat of losses in 2019 and 2020: Airline counteracts developments with a package of measures EUR 90 million should be saved annually, 700-800 budgeted positions in the company are affected Management Board: “We will fight relentlessly and vigorously against the price and wage dumping practiced by low-cost airlines” Austrian Airlines is repositioning itself in response to the glut of lo