Lufthansa has said it expects its subsidiary Austrian Airlines (AUA) to be in the black in 2011.The German aviation giant acquired a major interest in the Vienna-based company last year. AUA has carried out a strict cost-cutting programme during the past few months. It said the plan was to reduce its overall staff number of […]
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Quanmax equity and earnings jump
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Notebook producer Quanmax has managed to raise its equity in the first three quarters of this year.The Upper Austrian company, which was formerly named Gericom, announced today (Thurs) that its equity soared from 18.1 million Euros in December 2009 to 32.7 million Euros. This amount means the firm currently has an equity ratio of 52 […]
A-Tec Industries AG boss Mirko Kovats will spend his own assets to save his struggling company, according to a report.Business newspaper WirtschaftsBlatt reported today (Weds) that the businessman will contribute a “substantial amount” to get the firm back on track.Kovats sent shock waves through the Austrian economy last week when he informed shareholders that he […]
Greek challenge hits TA’s Serb bid
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Telekom Austrias (TA) efforts to acquire a majority of Serbias state-owned telecommunications company have suffered a significant throwback.The countrys federal Minister of Telecommunications and Information Society Jasna Matic confirmed reports that the government has been in talks with Greek firm OTE over the purchase of a 20 per cent share in Telekom Srbija.TA was being […]
TA seen in pole position for Serb snatch
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Telekom Austria (TA) are considered favourites to take over a majority stake in Telekom Srbija.The Austrian company confirmed today (Fri) it has been looking at the tender papers for the planned sale of a 50 per cent interest in the Serbian telecommunications provider.France Telecom, Germanys Deutsche Telekom and Egyptian firm Orascom Telecom are also interested […]
Rosenbauer bags Asian order
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Fire-fighting equipment producer Rosenbauer International AG has been contracted by an Asian company to deliver 21 fire trucks.The Upper Austrian firm, which is based in Leonding, said today (Thurs) it was assigned by the internationally-operating UMW Group to produce 21 fire engines worth an overall 17.4 million Euros for Malaysia Airport Holding Berhad (MAHB).Rosenbauers turnover […]
Mail order company Neckermann Versand Österreich AG suffered losses of more than eight million Euros last year, according to reports from today (Weds).Viennese newspaper Der Standard claims the firm a subsidiary of German mail order giant Neckermann also suffered a four million Euro year on year decline in turnover to 84 million Euros […]
Provincial political leaders are set to turn their guns on Lufthansa following revelations that the aviation firm is to axe its Linz Munich service.Local newspaper Oberösterreichische Nachrichten reports today (Tues) that the German company will stop offering flights between Blue Danube Airport in Linz, Upper Austria, and the German city of Munich as of […]
Majority want ÖIAG axed, poll shows
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More than six in 10 Austrians want a dissolution of the Austrian industry-holding stock corporation (ÖIAG), according to a poll.Researchers IFES said today (Mon) 61 per cent supported a possible shutdown of the body, while 30 per cent backed its continued existence.The future of ÖIAG and responsibilities has been publicly debated by the Social Democrats […]
Wolford snares ex-Hugo Boss CEO
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Former Hugo Boss chairman Werner Baldessarini has joined the supervisory board of an Austrian textiles firm, it emerged today (Thurs).Bregenz-based textiles and tights manufacturer Wolford said the Tyrolean has been assigned to help in positioning the company and its products.Baldessarini headed the executive board of German fashion giant Hugo Boss until 2002 before spending three […]