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The AUA (Austrian Airlines), like many other airlines, is forced to stay on the ground with its planes as a result of the crown pandemic, and needs state aid. Negotiations are ongoing. Under the “standard,” bankruptcy scenarios also run.
“We need bridge help,” said AUA spokesman Peter Thier. According to the newspaper, the airline alone needs around 750 million euros to arrive in the fall. The ORF was talking about 800 million euros. Political circles have reportedly reported higher amounts.
Lufthansa’s Austrian subsidiary talks to the federal government about government-guaranteed loans and grants. The roughly 7,000 employees are working short-term through April 20, the week before the board decides on a short-term extension request, but they already know how and with what amounts the Republic is helping. Participants do not like the idea of nationalization.
Parallel to state aid negotiations, AUA committees are also dealing with all legally possible insolvency scenarios, and employee representatives are also capitalizing on key company figures in this direction, the newspaper continues. The Justice Ministry had stipulated in a Covid law that bankruptcy applications for overindebtedness would not have to be filed until the end of June, provided the company was solvent. Then a positive survival prognosis is required for the subsequent time. The reason for the insolvency is still valid.
AUA spokesman Thier confirms that advice is also given on the bankruptcy issue: “Of course, we also have to deal with dire situations, simply due to due diligence,” he told the newspaper. “But our goal is to make the AUA fit for flight again.”
