Read us | Listen to us | Watch us | Join Live Events | Turn Off Ads | Live |

Click on your language to translate this article:

Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sudanese Sudanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu

Lufthansa sole bidder for airline

Written by editor

VIENNA, Austria — Austria’s privatization agency said Thursday it had chosen Lufthansa for exclusive final negotiations on selling the state’s 41.6 percent stake in Austrian Airlines.

VIENNA, Austria — Austria’s privatization agency said Thursday it had chosen Lufthansa for exclusive final negotiations on selling the state’s 41.6 percent stake in Austrian Airlines.

A statement by the agency, known by its Austrian acronym OeIAG, said it “will conduct final negotiations only with Lufthansa from this point on.”

Air France-KLM and S7 of Russia, the two other carriers that had expressed an interest “are no longer in the bidding process,” said OeIAG, in the statement quoted by the Austria Press Agency.

No sales price or other details were revealed. But among the conditions set by Lufthansa late last month were that the Austrian state assume up to euro500 million of the Austrian company’s debt.

Deutsche Lufthansa AG official Patrick Meschenmoser said the Germany company would not comment on the talks or conditions set by the German carrier “in accordance with the rules of the proceedings.” No one was answering the telephone after office hours at Austrian Airlines corporate headquarters.

Austria’s government decided in August to sell off its share in the ailing flagship carrier, which is steeped in euro900 million(US$1.127 billion) debt.

Austrian posted a net loss of euro16.4 million (US$20.54 million) for the three months that ended Sept. 30. In the third quarter of 2007 it had reported a euro20.6 million (US$25.8 million profit.

OeIAG head Peter Michaelis, in comments cited by APA, said he expected negotiations to end in final agreement “within a month.” He said Lufthansa’s conditions that the Austrian state assume a large part of the carrier’s debt were being evaluated.

Michael Kolek, another official, said that — although discussions with Air France-KLM occurred as late as a few days ago, they resulted in “no binding offer.”