Alexa

Austrian Airlines posts

Austrian Airlines posts

Austrian Airlines, the ailing carrier recently taken over by Germany's Deutsche Lufthansa AG, on Thursday reported a net loss of ⁈illion ($111.6 million) for the third quarter.
The result for the period that ended Sept. 30 was considerable worse than the loss of ⁈illion ($24.2 million) posted a year ago.
"The earnings figures relentlessly show our weaknesses," Peter Malanik and Andreas Bierwirth, members of Austrian's management board, said in a statement. "They demonstrate that we still have a lot of work ahead of us in order to be able to successfully restructure the company and make it profitable."
For the first nine months of 2009, Austrian reported a loss of ⁈million ($357 million), compared to a loss of ⁈$95.9 million) during the first three quarters of 2008.
The hard-hit airline announced in July that it planned to eliminate about 1,000 jobs by mid-2010 to boost its performance. That number was increased by several hundred a month ago in an effort to reduce the work force to roughly 6,000 by the end of next year.
Lufthansa's takeover of the Austrian Airlines Group was completed in early September, ending months of negotiations.
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On the Net:
http://www.aua.com