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Austria finmin backs independent Austrian Airlines

Tue May 13, 2008 12:29pm EDT

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BRUSSELS, May 13 (Reuters) - Austria Finance Minister Wilhelm Molterer on Tuesday reiterated his wish for Austrian Airlines (AUAV.VI) to remain independent after the national carrier ran into problems with a potential investor.

"What I want is a red-white-red (the colours of the national flag) airline," Molterer told reporters on his arrival for a meeting of euro zone finance officials in Brussels.

"The basic requirement for the future of Austrian Airlines is economic success. That is the decisive question. It has always been my position that if this is possible on a standalone basis, then that is fine," he added. "If another alternative is necessary, then that is part of the strategic deliberation."

Earlier on Tuesday, Austrian Airlines said it had called in its lawyers over a plan for investor Sheikh Mohamed Bin Issa al Jaber to take a 20 percent stake in the national carrier.

In a deal announced in March, the Saudi-Austrian investor was to take a 20 percent stake via a capital increase at 7.10 euros for about 150 million euros ($231.9 million). (Reporting by Paul Carrel; Editing by David Holmes)



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