Austrian Airlines will receive 600 million Euros from the Government and Lufthansa

Report by : Gan Yung Chyan

                  / KUCINTA SETIA

Austrian Airlines, a subsidiary of Lufthansa, announced that it will receive 600 million Euros in financial assistance. These funds will be provided in the form of loans and investments.

According to Simple Flying, Carsten Spohr, CEO of Lufthansa Group, said, "Austrian Airlines has always been an important part of Lufthansa Group's multi-hub strategy. Thanks for this rescue plan."

The Austrian government will invest 150 million Euros but the operations of Austrian Airlines must meet the ecological requirements of the government.

Lufthansa invests a further 150 million Euros into Austrian.

300 million Euros will appear in the form of bank loans, which need to be repaid by 2026.

Austrian Airlines said that the rescue plan aims to maintain its status as a preferred airline for Central and Eastern Europe and ensure the safety of long-haul flight connections.

Statistics from the Austrian Economic Chamber show that Austrian Airlines has created a value of 2.7 billion Euros in the country. In addition, 17,500 jobs have been created and 1 billion euros in taxes and duties have been created.