Deutsche Lufthansa AG (LHA)’s Austrian Airlines unit aims to save 260 million euros ($331 million) starting in 2014 under a reorganization program, Die Presse reported, without saying where it got the information.
Profit will already improve by about 200 million euros this year under the plan, the Vienna-based newspaper said.
Two-thirds of earnings improvement will be generated by cost reductions and one-third will come from higher revenue, Austrian Airlines said yesterday in a statement announcing the program, without specifying any figures.
To contact the reporter on this story: Alex Webb in Frankfurt awebb25@bloomberg.net.
To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net.
