Airline

Lufthansa Takes Over Austrian Airlines

Lufthansa Airlines last year signed an agreement to acquire a 41.6% stake in loss making Austrian Airlines (AUA) and last week the European Commission granted a cautious approval for the deal.   Austria had to make big concessions to secure the agreement including a €500 million (Dh 2,617m) payment.  Niki Lauda, owner of budget carrier Niki Airline and former Formula 1 world champion describe it as “The biggest catastrophe [for Austria] since the Second World War”. 

Finance Minister Josef Proell said the agreement is a “great success” following the European Commissions approval but the Austrian Chanceller Werner Freeman said it was an emergency solution.  He said he was relieved the deal went through but “When the taxpayer has to pay €500m that’s no success story.”  Mr. Lauda is satisfied with his part of the deal because his budget airline will now have seven new take off and landing slots in Germany, allowing him to expand next year.
 

More Airline
Emirates urging travelers to come early to avoid rush at Dubai Airport
Etihad Airways National Day takeover of Nasdaq Tower at Times Square
Football legend Rio Ferdinand promotes Dubai Fitness Challenge
Latest Travel News
Jumeirah Beach Hotel, Dubai, will be clo...
Etihad Airways National Day takeover of ...
World’s longest urban zipline launches i...
Featured Sights To See
Parque Los Caobos

Parque Los Caobos

Caracas, Venezuela

Address: east of the Parque Central Complex One of the oldest parks in Caracas, the Parque Los Caobos is known widely for its enchanting mahogany trees from which the park derives its name. A walk through the park, on its gently winding trails lined with hedges in fresh bloom, is a relaxing way to let go of the day’s troubles and rejuvenate your mind and body for the next day. The park is us...

US Holocaust Museum

US Holocaust Museum

Washington DC, United States

Visitors should come prepared for an experience likely to be disturbing and difficult to forget when visiting United States Holocaust Memorial Museum. At the start of the tour, each visitor is given an identity card of a Holocaust victim that matches the visitor's own age and gender. Ordinary reality is skewed through off-center stairways, weird angles and the shadows of other visitors on the glas...

Bonde

Bonde

Rio de Janeiro, Brazil

The bonde (tram) that travels from Centro up to Saint Teresa is the last of the original historic streetcars that once went thought the city. The bonde travels over the Arcos do Lapa and up Rua Joaquim Murtinho before reaching Largo do Guimaraes. From there one line takes a north-western route before terminating at Largo das Neves. There is a longer route which continues Largo do Guimaraes uphill ...

Stavrovouni Monastery

Stavrovouni Monastery

Larnaca, Cyprus

Stravrovouni, which means Mountain of the Cross, is a rocky perch on which the famous monastery stands. It is believed that the monastery was founded by Saint Helena, mother of Constantine the Great, in the 4th century. The mountain is very significant not only for Christians, but for also the Greek pilgrims who used to visit the temple for Aphrodite. Entrance to the monastery is pretty strict, ev...