Austrian Starts New Restructuring Program

Austrian Airlines, which failed to achieve its goal of breaking even in 2011, is kicking off another restructuring program with the intent of returning to profitability in 2012, says the carrier’s new CEO, Jaan Albrecht.

Under the new plan, Austrian will phase out its fleet of 11 Boeing 737s—a mix of two -600s, two -700s and seven ...

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