Austrian Airlines plans to cut 500 jobs to reduce costs

  04 November 2019    Read: 532
Austrian Airlines plans to cut 500 jobs to reduce costs

Austrian Airlines, owned by Germany’s Lufthansa (LHAG.DE), plans to lay off around 500 staff as part of efforts to reduce annual costs by about 100 million euros ($112 million), a person familiar with the plan said on Monday, AzVision.az reports citing Reuters. 

The carrier has faced increasingly stiff competition from low-cost carriers including easyJet (EZJ.L), Wizz Air (WIZZ.L) and Ryanair’s (RYA.I) Laudamotion on short-haul routes out of its base, Vienna.

The plan to reduce costs is due to be officially announced on Thursday, when Lufthansa publishes its third-quarter results.

Austrian Airlines declined to comment.

Austrian media reported the cost-cutting plan last week. Austrian Airlines now has just over 7,000 employees, roughly 1,200 more than after the last round of job cuts in 2012.


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