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Austrian Transport Industry Headlines

Changes in the Supervisory Board of Aircraft Component Manufacturer FACC

Board member Mr. Wang Xuejun will be replaced by Ms. Li Li as a new member of the Supervisory Board of FACC AG. She will be delegated by FACC International Company Limited, Hong Kong, which holds a stake of 55.5% of the total of Xi’an Aircraft's stake of 91,25 %. Ms. Li is currently Director of Accounting at the Xi'an Aircraft Industry Group. She holds a law and economics degree from Zhongnan University. She also obtained an MBA from Missouri State University Branch Campus Dalian in the People's Republic of China.

November 20, 2017

Strabag Secures Orders in Poland for 170 Million Euros

Austria's largest construction group has received orders worth 170 million euros in Poland. The General Directorate for National Roads and Motorways (GDDKiA) awarded three road contracts to the Polish subsidiaries of Strabag, said the listed company in a release.

October 31, 2017

Indian Ministry of Railways Discusses India-Austria Railway Cooperations

The Indian Minister of Railways, Shri Suresh Prabhu paid a visit to Austria. In an event organized by the Chamber of Commerce H.E. Mr. Prabhu met with CEOs and Austrian Railway Companies to discuss possible further India-Austria cooperations in the field of railways technology.

July 21, 2016

Austrian Post's Turkish Subsidiary in Conflict with Majority Owner

Post AG is involved in a buyback conflict regarding the Turkish subsidiary. Post took over a 25-percent stake in Turkish parcel delivery service Aras Kargo in 2013; it had been granted an option to buy another 50 percent of the shares. The company has been negotiating to use the option for a year now, but has been unable to reach a compromise.

July 5, 2016

Bawag Laying Off Further 180 to 200 Employees

Bawag Bank will optimize its branches and in course of the process will cut 180 to 200 jobs. 70 to 80 of the affected employees are supposed to be sent back to their actual employers - Post AG.

May 3, 2016

Long-Distance Coach Operator Flixbus to Compete with ÖBB Austrian Railways

Austrian state-run rail company ÖBB Austrian Railways is facing increasing competition of German mobility provider Flixbus which has just launched its third connection for Austria's regional capital cities, between Graz and Salzburg. In January 2016 FlixBus announced its entry to the markets of Central and Eastern Europe with the new branch FlixBus CEE. This includes six countries (Czech Republic, Slovakia, Hungary, Poland, Slovenia and Croatia) with new lines in the making. () am

April 27, 2016

AUA Started Flights to Shanghai, Tokyo Will Be Removed

The initial Austrian Airlines flight to Shanghai took off from Vienna yesterday. AUA will terminate the connection to Tokyo as of September 4 and will rather bet again on Chinese destinations. The economic slowdown of the Japanese economy made the Vienna-Tokyo route unprofitable. Instead AUA starts with five weekly flights to Shanghai on a Boeing 777.

April 7, 2016

Austrian Airlines to Offer Flights to Hong Kong Starting September 5, 2016

AUA Austrian Airlines has signed an agreement with Hong Kong authorities to ad Hong Kong International Airport to its portfolio of long-haul destinations. AUA will fly up to 5 times a week to Hong Kong as of September 5, 2016. The direct link to Vienna will also be the gateway to Eastern Europe for the Hongkongese as well as the South-Chinese business community.

March 9, 2016

Siemens Austria Builds World's Largest Metro Project in Saudi Arabia

The Austrian unit of Siemens announced in Vienna Simmering at the rollout of the first vehicle that a "a very, very big order” has been secured. With six lines and a total route length of 175 kilometers, the capital of Saudi Arabia Riyadh is planning the world's largest subway project. Siemens is to supply the entire turnkey system for two driverless metro lines.

February 24, 2016

EU to Crack Down on Postal Rip-Offs including Austrian Post

The FT reports that Brussels is preparing a regulatory crackdown against rip-off pricing by national postal operators on cross-border parcel deliveries. According to a study, cross-border parcel deliveries are often five times more expensive than identical trips on the domestic market. While the price of a standard 2 kg parcel delivery in Austria with the national postal operator is €4.44, to have that same parcel send to neighbouring Italy would cost €14. Sending the same parcel back from Italy to Austria will rise to €25. In order to connect the common market, the EU wants to develop the potential of e-commerce and to boost cross-border trade. According to the FT, a spokeswoman of the European Commission said that early next year the Commission will “launch measures to enhance price transparency and regulatory oversight” of the European parcel delivery market.

December 22, 2015