Austrian Finance Minister states Austrian Airlines to remain Independent

However, al Jaber has threatened to pull out after the airline posted a 1Q08 EBIT loss of EUR50.1 million - much worse than expected. Al Jaber claimed to have been misinformed about the true state of the carrier's financial development when he signed a preliminary agreement on 03-Apr-08. The airline stated talks are continuing with al Jaber, and it is also reportedly considering a strategic partnership with another airline, possibly Emirates or Lufthansa.
 
Austrian Government: "Austrian Airlines is an important Austrian flagship company and thanks to its internal situation, competition from low-cost airlines and high fuel prices, is in a challenging situation. We should consider together what will be the best strategy to keep it red-white-red [the colours of the national flag]...The standalone model is the ideal one,” Wilhelm Molterer, Finance Minister. Source: Reuters, 08-May-08.

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