Financial Aid from the Federal Government and Lufthansa for Austrian Airlines

Austrian Airlines receives funding of 600 million euros from the Austrian government and Lufthansa:   

 

-State aid to cover coronavirus-related losses (EUR 150 million)

-Injection of equity capital by Lufthansa (EUR 150 million)

-Bank loans to be repaid by 2026 (EUR 300 million)      

 

According to the Austrian Economic Chambers, Austrian Airlines and its Vienna flight hub are responsible for EUR 2.7 billion in domestic value creation, 17,500 jobs, and EUR 1 billion in taxes and customs.

The following are some of the specified requirements:

    

- CO2 emissions within Austria should be halved by 2030.   

- Austrian Airlines committed to increase jet fuel efficiency by 1.5% annually and to decrease average CO2 emissions per 100 passenger kilometres of the entire Austrian Airlines fleet from 9.55 kg to 8.5 kg by 2030.     

- CO2 emissions are to be reduced by 30% by 2030, compared to 2005 level.

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