Austrian Airlines

Transportation • Air Transportation & Traffic, Flying
Austrian Airlines gets €450 million bailout
An Austrian Airlines Boeing 767-300ER departing JFK Airport
An Austrian Airlines Boeing 767-300ER departing JFK Airport Credit: Adam Moreira (Creative Commons Attribution ShareAlike 4.0)

The Austrian government announced today that it is granting Austrian Airlines €450 million bailout that will protect Vienna as a transit hub and safeguard carrier's jobs.

Ministers told during a press conference the structure of the bailout will be €300 million in loans by a banking consortium, 90% of which to be guaranteed by the government, and €150 million in direct grants.