Austrian Airlines plans to cut 500 jobs to reduce costs - source
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FRANKFURT (Reuters) - Austrian Airlines, owned by Germany's Lufthansa , plans to lay off around 500 staff as part of efforts to reduce annual costs by about 100 million euros (£86 million), a person familiar with the plan said on Monday.The carrier has faced increasingly stiff competition from low-cost carriers including easyJet , Wizz Air and Ryanair's Laudamotion on short-haul routes out of its base, Vienna.The plan to reduce costs is due to be officially announced on Thursday, when..