Austrian’s Restructuring Appears To Be Paying Off

By Jens Flottau
Source: Aviation Week & Space Technology
October 07, 2013

A little more than a year ago, Austrian Airlines was closer to shutdown than survival, but after some deep and very contentious cuts, it is en route to an operating profit this year.

“We think the worst is behind us,” says CEO Jaan Albrecht, the man behind the turnaround, who led the Star Alliance for 10 years before joining taking the helm at Austrian. When he arrived in Vienna in November 2011, he quickly realized that things were much worse at the airline than expected.

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