Austrian Extends Short-Time Work

• Short-time work will be continued for a further month from April 20, 2020
• All 7,000 employees will remain on short-time work until May 19, 2020

Due to the global developments in connection with the Coronavirus and the continuing restrictions on travel, Austrian Airlines is extending the short-time working model for its 7,000 employees by a further month until May 19, 2020.

The Austrian Airlines employees have been on short-time working since March 20, 2020, initially for one month. This had become necessary after the sharp decline in demand due to the Coronavirus, which forced Austrian to suspend its flight operations temporarily on March 18, 2020.

The red-white-red airline is already working on its new start after the crisis. An exact date is still not foreseeable, however. For this reason, the company has agreed, in coordination with the works councils, to extend short-time work for another month.

The cornerstones of the "Corona” short-time working model remain unchanged and continue to provide for a reduction of working time down to a minimum of 10 percent while ensuring payment of up to 90 percent of employee salaries. The difference will be covered by AMS funding or by Austrian Airlines. Depending on the further development of the situation, short-time work can be extended by further months. The maximumpossible duration of "Corona" short-time work is six months.

CEO Alexis von Hoensbroech: "The model of short-time work helps us to fly through this crisis as well as possible. However, our goal remains unchanged: As soon as it is possible, we want to start flying again. Even if it will still be a long way to a new normality, we are already preparing for it with full force".