Austrian Privatisation

The Austrian Government is expected to announce the planned timetable for the privatisation of national carrier Austrian Airlines by the end of December. Sources close to the company say that only Lufthansa remains as a serious bidder, although Russian carrier S7 Airlines remains in the running.
Austrian Airlines reported a net loss of €65.1 million during the first three quarters of this year and forecasts a disappointing fourth quarter. Just a month into the period, it has revealed that a significant decline in sales revenues will overcome any relief from the falling fuel costs, and result in a predicted 2008 fiscal year net loss of between €100 and 125 million.