Lufthansa says interested in Austrian Airlines stake
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Lufthansa has formally announced its interest in acquiring a stake on offer in Austrian Airlines, a spokesman for the German carrier said.
Austrian Airlines is currently searching for a strategic partner, and the country's state holding company OeIAG, which holds a 43 percent stake in the airline operator, has invited potential bidders for Austrian to notify their interest by Aug. 24.
“We have expressed our interest,” Lufthansa spokeswoman Bettina Rittberger told Bloomberg on Monday by telephone.
Austrian's board has screened possible buyers and sources close to the board say a majority favors Lufthansa, Thomson Financial and Reuters reported. The board sees Air France-KLM, Aeroflot and Turkish Airlines as second choices.
After Aug. 24, potential buyers will receive more information about the purchase process and can submit formal offers until Sept. 12, Austrian news agency APA reported.
The Austrian government has given approval for a sale of the airline, provided the government retain a 25 percent blocking minority, the company's headquarters remain in Austria and the airline keep its name.
Austrian Airlines' management has estimated that the company will post a 70 million euro loss this year