First, I do not think that leaving the Qualiflyer Group (Swissair, Sabena, TAP, LOT,...) to join Star Alliance was a mistake. Star Alliane is made up of some of the top airlines of the world, whereas QG is simply a group of sometimes questionable airlines (Turkish, LOT,..) tied together by Swissair and sometimes victims to their expansion policy.
If the members of the Austrian Airlines Group (Austrian Airlines, Lauda Air, Tyrolean Airways) had not joined Star Alliance, they would have surely faced tough competition from LH on their very important routes to Germany. But as it is now they can conveniently bring in their traffic from Central Europe, Eastern Europe and the Far East to Vienna, Munich or Frankfurt to provide connections for their passengers. Their own flights to the US for example were never strong, Lauda only operating 3 scheduled flights to Miami per week (via Munich where the also previously collected traffic from LH) and Austrian Airlines only serving 3 or 4 destinations in the US (New Yor, Washington, Detroit,) together with previous partner Delta.
The financial transaction proposed by Niki Lauda (or more likely his CFO
) will bring in the money needed to cover this year´s loss, but certainly not help solve the problems causing the loss. AUA was informed about the steps but walked out of a meeting of the board of directors, which made Lauda take the task on his own to save his company. If Lauda Air´s capital ratio drops below 10% (and it would if he lost USD 45mio as predicted by him), they could lose their operating license. In another meeting of the board of directors (comprised of Niki Lauda, the two CEOs of Austrian Airlines, 3 members of Lauda´s worker´s council, Austrian´s head of the board of directors, a member of Lufthansa, a lawyer and a university professor) it has been decided on Friday that another report is to be compiled by independent certified accountants, which should determine how great Lauda´s loss is going to be. Before that Lauda´s accountants had said it would be USD 45mio and Austrian´s accountants (Deloitte&Touche) stated that it will be USD 90mio.
The next meeting will be held on Monday, let´s wait and see.