Lufthansa’s dim forecast shakes nerves at AUA

Further cutbacks at Lufthansa cast shadow over Austrian Airlines

Austrian Airlines is expecting even deeper cuts now that parent company Lufthansa has lowered its own economic outlook. Lufthansa said on Tuesday that its own operating profit was “unlikely” to be greater than last year’s performance of €876 million. The German airline served 4% more passengers in August than the same month the year before, totalling 9.9 million of them, but only 81.4% of the total number of offered tickets were sold – a fall of 2%.
Austrian Airlines suffered a loss of €63 million in the first half of 2011. It served 1.146 million passengers in August – a monthly record for AUA. Lufthansa has so far said it will not be selling Austrian and aims to bring it back into profitability “as soon as possible”. As reported, Lufthansa has put another of its loss-making subsidiaries, bmi, up for sale.
Austrian Independent