Lufthansa Cargo and Austrian Airlines found joint subsidiary in Vienna

LUFTHANSA Cargo and Austrian Airlines have formed a joint company, Austrian Lufthansa Cargo, which will be headquartered in Vienna.

The new company will be responsible for marketing the entire freight capacity of aircraft operated by Austrian Airlines and Lufthansa Cargo in the Austrian market. In addition, it will manage all the freight handling activities in Austria for its parent companies and manage the expansion of Vienna airport into a further hub for Lufthansa Cargo.

Lufthansa Cargo will hold a 74 per cent stake in the new company, Austrian Airlines 26 per cent.

Franz Zöchbauer and Hasso Schmidt will assume management of the company, which will have a staff of about 120. Zöchbauer, who formerly headed the Austrian cargo division at Austrian Airlines, will be responsible, among other things, for expanding the Vienna hub. Hasso Schmidt will become director Austria, eastern and southeastern Europe, Turkey and Israel at Lufthansa Cargo, and be based in Vienna. He will also assume responsibility for sales for Austrian Lufthansa Cargo while retaining his existing remit. 

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