Austrian Airlines consults its lawyers after talks collapse with Saudi Arabia

According to OIAG, Al Jaber had sought to acquire additional shares and exert greater strategic control over the airline. Meanwhile, Austrian Finance Minister, Wilhelm Molterer, reiterated his wish for Austrian Airlines to remain independent (Reuters, 13-May-08).

Austrian Airlines: "We will hand the subject over to our lawyers. I cannot say now whether we are demanding that the contract be fulfilled, or damages," Alfred Oetsch, CEO. Source: Reuters, 13-May-08.

OIAG: "In order to ensure control of Austrian Airlines by OIAG and its syndicate partners, and the economic interests of society and the Austrian republic, it was inconceivable to meet the additional demands of Sheikh al Jaber," company statement. Source: Reuters, 13-May-08.

Austrian Government: "What I want is a red-white-red (the colours of the national flag) airline. The basic requirement for the future of Austrian Airlines is economic success. That is the decisive question. It has always been my position that if this is possible on a standalone basis, then that is fine. If another alternative is necessary, then that is part of the strategic deliberation", Wilhelm Molterer, Finance Minister. Source: Reuters, 13-May-08.

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