Austrian Airlines Österreichische Luftverkehrs-AG
Austrian Airlines english
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Following intensive discussions with staff representatives, the unions and the
AMS, the Austrian job center, the Board of Management of the Austrian Airlines
Group, under the leadership of new Chairman Vagn Sorensen, has worked out a
series of measures. On the one hand, these new steps are designed to keep to a
minimum the negative economic consequences for the Group in the short term,
following the terrorist attacks of September 11, 2001. On the other hand, the
measures should serve to regain control of what is a generally very difficult
situation for the company.
In a demonstration of solidarity, the Board of Management of the Austrian
Airlines Group, the second-level managers of Austrian Airlines as well as the
management of Tyrolean and the management board of Lauda Air have all declared
themselves ready to voluntarily give up 15% of their salaries in 2002.
Due to structural measures which will take effect in the longer term, there will
be a reorganisation of the Group within the Austrian Airlines Group. These will
accelerate and conclude the integration process that has already begun. A
slimmed down organisational structure and a clear division of responsibilities
for the individual airlines operating within the Group should make the company
more efficient and more productive.
In a first stage, these measures will only achieve part of the necessary savings
potential of EUR 50 million from Austrian Airlines Group staffing costs. This
aim will therefore only be achieved through a staged reduction in jobs. The
number of Austrian Airlines Group jobs will then be reduced by approximately
800, or 10% of current staffing levels, by the end of 2002.
Currently, as part of an internal process, the distribution of these 800
positions is being defined, both between the members of the Austrian Airlines
Group and within the individual companies.
We will do whatever it takes to ensure that these absolutely necessary job
losses are implemented in a way that is as socially acceptable as possible,
commented Vagn Sorensen, before going on to say: In the course of the
restructuring of the Austrian Airlines Group, however, further steps will be
necessary if reorientation is to be achieved and the company is to return to
profit.
end of ad-hoc-announcement (c)DGAP 09.10.2001
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WKN: 062015; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, München,
Stuttgart
091613 Okt 01
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