The management of the Austrian Airlines Group agreed on a time-limited package of saving measures with all the Works Councils designed to help improve the competitiveness of the company. It has been agreed that personnel expenditure should be reduced by 5% for a time-limited period from 2010 to 2015. Over this 6-year period, this will produce a total cost saving of 150 million euros, calculated by the cash value equivalent. The details of the package are rapidly being negotiated by the social partners. It will not include any extra job cuts beyond the 1.000 posts already announced.
Management remains confident that the integration of the Austrian Airlines Group into Lufthansa will go ahead successfully. For this reason, it is currently doing everything within its power to ensure that the scenario can be commercially successful.
