Austrian Airlines, which is struggling to complete a deal with a key investor, could also consider working with a strategic partner, its chief executive said in an interview on Friday.
Alfred Oetsch, who has previously said the troubled airline did not need to work with a rival, told ORF radio: "The environment has changed dramatically."
In a deal announced in March, Saudi-Austrian investor Sheikh Mohamed Bin Issa al Jaber was to take a 20 percent stake in the airline via a capital increase at 7.10 euros per share, substantially higher than the current market value, for about EUR150 million (USD$230 million).
However, al Jaber has threatened to pull out after the airline posted a first-quarter EBIT loss of EUR50.1 million (USD$76.80 million) in April, much worse than expected, sending the shares sliding.
Talks with al Jaber go on, but Oetsch said it was possible to take on both a major investor and a strategic partner.
"If because of the environment and the current high fuel price, which will probably remain, it is not certain that we can be sustainably profitable even in crisis times, then we have to reconsider, also taking account of Austrian interests and the brand," Oetsch said.
He did not say who the airline might work with, but some market players have mentioned Lufthansa and Emirates.
Oetsch also dismissed calls for his resignation from shareholders at this week's annual meeting as irrelevant.
