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Aeroflot Bows Out of Austrian Bid
Aeroflot has declined to participate in the competition for the state package in Austrian Airlines, considering the risks of the deal to outweigh its benefits, according to Reuters. The German press reported at the end of May that the Austrian state corporation OIAG was selling its 43-percent share of the deeply financially troubled airline.
German Lufthansa, French-Dutch Air France-KLM and Turkish Airlines are also contending for the Austrian share. Reuters reports that the Austrian Airlines supervisory board is leaning toward Lufthansa.
Aeroflot has been trying to enter the European market for several years. Aeroflot was among the contenders to buy the loss-making Italian airline Alitalia and expressed interest in the privatization of Serbian airline JAT and Czech Airlines. Austrian Airlines, that country’s largest, was founded in 1958 and flies 133 routes.
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