17/01/2024

Al Jaber achieves further victory over Lufthansa subsidiary Austrian Airlines in long-standing legal dispute

Saudi-Austrian entrepreneur Mohamed Bin Issa Al Jaber

Lufthansa subsidiary Austrian Airlines' appeal against a damning court ruling from last year was dismissed by the Vienna Higher Regional Court last week.

AUA's failure clears the way for Saudi-Austrian entrepreneur Mohamed Bin Issa Al Jaber to claim more than one billion euros in direct and indirect losses from Austrian Airlines, which is part of the Lufthansa Group, that he suffered during the 15-year dispute.

"The courts have once again proven me right that the Management Board of Austrian Airlines acted unlawfully and to the detriment of all shareholders - and ultimately also Austrian taxpayers. Hundreds of millions were paid to Lufthansa in subsidies and grants by the Austrian authorities. If they had accepted my plan, the airline would be a major regional player today and not just a brand - and Vienna would be a hub for air traffic throughout Central and Eastern Europe and the Middle East," said investor Mohamed.

"The courts have taken more than 15 years to carefully examine all the evidence and have clearly convicted the management of Austrian Airlines and exonerated me. Now it is time for AUA or its owner, the Lufthansa Group, to make amends for the immense damage they have caused me, my family and my companies. If I don't hear from them soon, I will not hesitate to claim damages and compensation in court," he added.


https://www.finanzen.at/nachrichten/aktien/lufthansa-aktie-verliert-jahrelanger-streit-zwischen-al-jaber-und-aua-um-ein-urteil-reicher-1032969789

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