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MIAMI – The Lufthansa Group is considering bankruptcy under its own management amid reports of an alleged agreement for multi-billion state aid. The German government said this morning that as of yet there has not been an agreement on state aid. According to a report by the German Press Agency, the talks are not expected to end by the end of the week either, noting that with a company of this size, such aid must be used wisely. On a different front, the Swiss Lufthansa subsidiary Swiss, has apparently made progress, which, according to media reports, can expect state-guaranteed loans
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