Austria: Postbus denies accusations

Article Abstract:

The managing director of Austrian bus company Postbus, Wilhelmine Goldmann, could not confirm on 11 October 2001 that the company had slipped into the red. Goldmann claimed that in any case, Postbus has intermittently made losses and recovered, but this was not recorded as the figures tended to be hidden within the figures for its former parent company, the post office. Postbus denied the organisation for the employees' charges that management costs had become significantly higher since the company split from the post office, claiming that the same management costs are paid to new parent company OIAG, the state holding company, and that the company is working on its own management, to be operational by 2002, which will be significantly cheaper. Postbus also denies that it intends to reduce salaries, emphasising that salaries are guaranteed until the end of 2001, and the company is looking at a solution which will mean that net salary will not change beyond that date. The employees' organisation is expected to give an answer to this proposal by the end of October. While the organisation representing the employees accuses Postbus of not informing customers about the safety implications of its recent decisions, Postbus denies that there are any safety implications, as the decisions are to do with employment issues and not, for example, "altering the steering mechanism". The employees also suggest that Postbus is breaking employment law, a charge which Postbus emphatically denies. The employees are supported by the union for the Post Office and Long Distance Telecoms (Gewerkschaft der Post und Fernmeldebediensten).

Sales, profits & dividends, Personal income information, Postbus

---

AUSTRIA: DEREGULATION OF BUS SERVICES

Article Abstract:

Under a new law that will take effect at the beginning of year 2000, the federal states, local authorities and other local public transport operators in Austria will be allowed to invite tenders for the operation of loss-making bus services. Until now the existing operators of the services had the right to veto contracts to competitors. The leading bus service operator, the Post company Osterreichische Post, has announced that it will give up loss-making bus services. According to a spokesperson of the transport ministry, some of the routes could be served by taxis or buses on call. In the case of profitable bus lines, the new law limits the length of concessions from 15 to 10 years. However, priority has to be given to the existing operator.

Government regulation

---

Austria: OIAG delays proposal to owner

Article Abstract:

The Austrian state holding company, OIAG, has delayed the proposal for the sale of Postbus to the representative of its owners, in this case the finance minister, by two weeks. Although the sale of Postbus will not require any change to the OIAG's existing rules, it still needs government approval. The estimated value of the sale is about EUR 145mn. The government owns both the OIAG and Postbus' buyer, the Oesterreichische Bundesbahn (OBB).

Asset sales & divestitures, Local and Suburban Transportation

Similar abstracts:

• Abstracts: Austria: Tests on insulin for inhalation. Austria: Chronic bronchitis among smokers
• Abstracts: Austria: Cartel office stops Switch. Austria: Hydro power joint venture approved. AUSTRIA: ADVERTS OF POWER SUPPLIER SWITCH BANNED
• Abstracts: Austria: Staff turnover at Creditanstalt high. Austria: Savings deposits fare well. Austria: Building Societies forecast results
• Abstracts: AUSTRIA: DECLINE IN DRINK SALES IN RETAIL TRADE. Austria: Food safety regulatory body delayed
• Abstracts: Denmark: Free papers no threat to traditional dailies. Denmark: Advertisers have faith in free newspapers. Denmark: Jyllands-Posten and SOL.dk to co-operate

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.