Lufthansa's Austrian Airlines to miss 2011 target
Aug 22 (Reuters) - Austrian Airlines, owned by Lufthansa , will fall short of its target for a positive operating result this year, an executive said on Monday.
Stefan Lauer, Austrian Airlines supervisory board chairman, was quoted as saying at an event in Vienna that Austrian Airlines would not reach its targets for 2011. A spokeswoman for Lufthansa confirmed the remarks.
Austrian Airlines had been aiming for a positive operating result in 2011, but like fellow Lufthansa group airline bmi, it has been hit hard by the loss of business to the Middle East and North Africa following uprisings there.
Lufthansa Chief Financial Officer Stefan Gemkow had said at the group's second-quarter results last month that the first half had been much more difficult than expected for Austrian Airlines.
Measures being taken to improve the airline's results include a hiring ban, as well as flight plan adjustments.
Shares in Lufthansa were up 0.6 percent at 11 euros by 1147 GMT, compared with a 1.4 percent gain for the blue chip Dax index . (Reporting by Victoria Bryan; Editing by David Holmes)
Aug 22 (Reuters) - Austrian Airlines, owned by Lufthansa , will fall short of its target for a positive operating result this year, an executive said on Monday.
Stefan Lauer, Austrian Airlines supervisory board chairman, was quoted as saying at an event in Vienna that Austrian Airlines would not reach its targets for 2011. A spokeswoman for Lufthansa confirmed the remarks.
Austrian Airlines had been aiming for a positive operating result in 2011, but like fellow Lufthansa group airline bmi, it has been hit hard by the loss of business to the Middle East and North Africa following uprisings there.
Lufthansa Chief Financial Officer Stefan Gemkow had said at the group's second-quarter results last month that the first half had been much more difficult than expected for Austrian Airlines.
Measures being taken to improve the airline's results include a hiring ban, as well as flight plan adjustments.
Shares in Lufthansa were up 0.6 percent at 11 euros by 1147 GMT, compared with a 1.4 percent gain for the blue chip Dax index . (Reporting by Victoria Bryan; Editing by David Holmes)