Social Democratic (SPÖ) Chancellor Werner Faymann considers a reform of national broadcaster ORF’s Stiftungsrat for the foreseeable future. The Stiftungsrat is a council with 35 members which has a function similar to a supervisory board. It is widely seen as an essential tool to Austria’s parties when it comes to trying to make themselves heard […]
Austrian Airlines (AUA) head Jaan Albrecht has promised that customers will not be negatively affected by the firm’s contract reform. The supervisory board of the loss-making carrier decided yesterday (Thurs) to annul the contracts of all pilots and cabin crew employees. AUA bosses hope to save 45 million Euros a year that way. Unionists and […]
The bosses of Austria’s most powerful companies are earning much more this year than in 2011, according to a survey. The Labour Chamber (AK) said yesterday (Thurs) that the chiefs of the 20 Austrian firms which were listed on the Vienna Stock Exchange (WBAG) would rake in 1.3 million Euros on average in 2012, up […]
Hypo Group Alpe Adria (HGAA) supervisory board head Johannes Ditz has said he is confident that the bank will manage to sell two affiliates. The former Austrian People’s Party (ÖVP) economy minister said today (Thurs) HGAA managed to “get rid of all possible risk factors” which could endanger a sale of its Austrian and Italian […]
Andreas Bierwirth is about to leave the executive board of Austrian Airlines (AUA), according to reports. Several Austrian business dailies report today (Fri) that the businessman’s contract will not be extended. The supervisory board of Lufthansa – which rescued AUA from ruin in 2009 – is understood to debate the details of Bierwirth’s departure in […]
Austrian Airlines (AUA) has decided to jack up ticket prices – only two months after the most recent increase. The struggling carrier, which suffered a loss of 65 million Euros in each of the past two years, said yesterday (Weds) its kerosene surcharge would increase as of next Tuesday (28 February). The airline explained that […]
FlyNiki founder Niki Lauda has harshly criticised a competitor for calling on a court to investigate a decision affecting aviation regulations. It emerged yesterday (Mon) that Austrian Airlines (AUA) filed a lawsuit at the Federal Constitutional Court (VfGH) regarding its number of flights between Vienna International Airport (VIA or VIE) and Ben Gurion International Airport […]
Austrian Airlines (AUA) has confirmed plans to freeze staff’s wages. Speculations about which measures new AUA chief Jaan Albrecht has in mind as part of his cost reduction strategy have made the rounds for some weeks. Now a spokesman for the company disclosed that the plan was to abolish terms in contracts which guaranteed employees […]
Labour Chamber (AK) President Herbert Tumpel has demanded higher corporation taxes. Tumpel said yesterday (Thurs) Austrian firms had handed over just 17 per cent in taxes in 2010 despite the mandatory 25 per cent taxation rate. He explained the investigated enterprises used various loopholes to evade worse tax burdens. The AK investigated the performance of […]
Volksbank AG (ÖVAG) plans to dismiss one in five employees in a desperate attempt to avoid going bust. The loss-making bank, which received an emergency injection of one billion Euros from the state three years ago, said yesterday (Thurs) around 250 employees would lose their jobs in the coming months. This figure means that 20 […]