New CEO takes the reins at Austrian Airlines

posted on 1st August 2018 by Justin Burns
New CEO takes the reins at Austrian Airlines

Austrian Airlines chief executive officer (CEO) Kay Kratky (pictured below) yesterday handed over the reins to new CEO Alexis von Hoensbroech.

The carrier’s board unanimously appointed von Hoensbroech on 20 June to take over from Kratky and his first day at the helm was today.

Kratky handed over a “CEO altimeter” – an altitude measuring device – to his successor with its needle set at 150, a reference to the defined target of Austrian Airlines making a profit of  €150 million.

He started as CEO of the Lufthansa Group subsidiary airline in 2015, when it generated an EBIT of €54 million. In 2017, the carrier’s EBIT reached €101 million but the new target is €150 million. In 2012, Austrian Airlines was still in the red.

Kratky wished von Hoensbroech who moves from his role of chief commercial officer at Lufthansa Cargo “always blue skies”.

Following the restructuring and stabilisation phase, von Hoensbroech said he aims to maintain Austrian Airlines on its success path.

“I am pleased to build upon the performance achieved in recent years and to strategically climb further in flight altitude together with Austrian Airlines,” he added.