Austrian Airlines Group said yesterday that it will need to cut an additional €200 million ($281.6 million) in costs and will slash 1,000 jobs to help it achieve the savings target. "It is no easy step," Executive Board member Andreas Bierwirth said. "We see the market dropping more than we expected. It is the biggest crisis in aviation and the crisis will be increasing." Talks with unions are underway to find a solution to reach the workforce reduction. "The company needs more [cost] ...

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