Austrian Post Office under pressure with budget plan

The budget for 2002 for Osterreichische Post, the Austrian post office, was not unanimously passed by the four-man management board on Tuesday evening. The supervisory board will meet next Tuesday to discuss business for 2001 and prospects for 2002, and to pass next year’s budget.

There are indications that turnover this year for Osterreichische Post AG will amount to Sch21.7bn rather than the Sch23bn targeted, in view of the fact that classic services, such as the delivery of written communications, is in lower demand in the internet age while new services, into which much was invested, have not shown the targeted success. Internally, the management board has been criticised for a perceived lack of direction regarding the new group structure, on which a decision has still not been reached. General director Anton Wais is expected to face critical questions from the company’s owner, state enterprise holding OIAG, at forthcoming meetings.