Austrian Airlines Group is facing massive challenges to liquidity, with COO Mepeter Malanik saying Friday, "Demand is collapsing and the outlook offers very little reason to be optimistic." He added, "We expect to see a reduction in revenue of up to 15% at the Austrian Airlines Group in 2009, equivalent to approximately €225 million ($294.4 million)." The announcement came a day after the dismissal/resignation of CEO Alfred Oetsch (ATWOnline, Jan. 27) AAG will reduce production by a ...
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