Austrian Government to publish tender for sale of part of its stake in Austrian Airlines

Interested parties will have two months to file offers for the airline, with due diligence expected to commence in Sep-08, leading to a short list by Oct-08. A partner will be selected by the end of 2008. Under the sale terms, 25% of the airline must reportedly remain under the control of Austrian nationals. Other conditions for the sale include keeping the Austrian Airlines brand, Austrian headquarters and Vienna Airport as the airline’s main hub. Apart from OeIAG's stake, which is worth EUR158 million at current prices, a group of two Austrian banks and one insurer owns 7% of the airline, while Austrian holds 3% of its own shares and 47% are freely floated.



(c) Centre for Asia Pacific Aviation. Date posted: 13-Aug-08

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