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Based on the privatisation of Austrian Airlines which was concluded in September, we can now persistently implement the “Austrian Next Generation“ strategy.
The European Union granted its formal regulatory approval of the takeover of Austrian Airlines by Deutsche Lufthansa with conditions. The required remedies will have to be reflected in planned production. Accordingly, following an overall ASK reduction of 15% as of the end of 2010 (compared to the end of 2007), a growth in production will first be permissible when Austrian Airlines reports positive operating results again.
On that basis, the prescribed approach is “Positive cash flow, positive net result, earn capital expenditures“. Austrian Airlines is breaking new ground with a new market and fleet strategy, the reduction of all influenceable costs and the optimal exploitation of all synergies with Lufthansa. These three pillars represent the cornerstones of our “Austrian Next Generation“ concept.
We do not consider Lufthansa to be a soft cushion enabling us to lay back and take it easy. We are fully responsible for the restructuring and business results of Austrian Airlines, and will optimally make use of our room to manoeuvre and the leverage at our disposal. We determinedly support the growth strategy of the Austrian Airlines Group, and will strive to generate positive operating results as soon as possible. We were too defensive for too long a time, also in respect to the action we took at our Vienna hub. Thus our goal is to expand market share and enhance our market leadership position in Vienna once again.
By operating larger aircraft, optimised seating configuration and adjusted collective agreements we intend to reach a balanced result (EBIT) by 2011. In the future we focus on important medium-haul routes and high passenger volume markets in Western and Eastern Europe and less on niche markets.
On that basis we will cut back our fleet of 50-seater and 70-seater aircraft – which mostly will be taken out of operation – and operate Airbus and Boeing aircraft.
We expect the ongoing difficult business environment to extend beyond the year 2009, featuring sustainable changes and a further consolidation in the airline sector. We have laid the groundwork for a successful future within the Lufthansa family. The growth path underlying sustainable corporate success has been clearly defined and will be pursued with determination. All our system partners are invited to join us. We believe in our success and in the future of our company.
We are Austrian!
Update: 11.03.2010 |
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