Austrian poised for Lufthansa takeover

Austria's national carrier has been recommended to seek a takeover by German rival Lufthansa to ensure survival Vienn-- Management consultants are advising Austrian Airlines that Lufthansa would be the best candidate to take over the ailing carrier, the Austrian daily Die Presse reported Friday. Boston Consulting has been hired by Austrian Airlines' management to evaluate various cooperation scenarios. The consultant's report mentions Russian carrier Aeroflot as the only other viable cooperation partner, Die Presse wrote. Austrian Airlines expects to end the financial year 2008 with losses between 70 and 90 million euros (110 and 141 million dollars), due in large part to higher fuel prices. Lufthansa CEO Alfred Mayrhuber has repeatedly indicated his interest in acquiring stakes in the Austrian flag carrier. But he has also... [read full story]