Time is running out for Austrian Airlines Group, which announced last week that it lost at least €131.5 million ($166.1 million) through 2008 and January 2009, or half of the total value of its shares. "The announcement of the loss was no surprise for us," AAG board member Peter Malanik said. But the company's ultimate survival depends on the closing of its takeover deal with Lufthansa, which must be completed by July in order for AAG to ensure its viability. The European Commission ...

Subscribe to Access this Entire Article

"Austrian running out of time as business model proves faulty" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.