Business | Investment
Austrian Airlines agrees to Saudi investor's bid
The supervisory board of Austrian Airlines agreed terms yesterday for Saudi-Austrian investor Shaikh Mohammad Bin Eisa Al Jaber to take a 20 per cent stake, the airline said.
- Reuters
- Published: 00:48 March 13, 2008
Vienna: The supervisory board of Austrian Airlines agreed terms yesterday for Saudi-Austrian investor Shaikh Mohammad Bin Eisa Al Jaber to take a 20 per cent stake, the airline said.
It said in a statement the investor would take part in a capital increase at a price intended to be 7.10 euros per share and open to all investors. It said members of an existing shareholder syndicate would not take part in the capital increase. The syndicate is headed by state holding company OeIAG with about 40 percent of the shares.
The OeIAG earlier this week agreed the plan and said the Saudi investor's involvement would help the airline speed up plans to expand in the Middle East.
The airline earlier reported 2007 net profit of 3.3 million euros, up from a loss of 129.9 million in 2006.
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