Large Austrian Airlines stake on the block

14 Aug 2008

1

Austrian state holding company ÖIAG is inviting bidders for a possible 43 per cent stake in Austrian Airlines. Interested parties will have to notify their interest by 24 August, according to reports.

Though ÖIAG is offering its entire 43-per cent stake in the airline, estimated to be worth around $234 million, the size of the stake sold would depend on preserving an Austrian group of core shareholders owning 25 per cent between them.

Inside sources let it be known that the airline's board would prefer Lufthansa with Air France-KLM, Aeroflot and Turkish Airlines as second options.

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