Abtenau cable car rescued: Restructuring plan finally approved

Cause of the insolvency was a reservoir

Cause of the insolvency

According to the mountain railway company, the cause of the insolvency was delays and unexpected cost increases in the construction of an "operationally necessary" reservoir. Claims amounting to around 1.82 million euros, on the other hand, were contested.

Owners and company

According to creditor protection associations, 56 creditors – including 16 employees – have so far registered claims of around 6.29 million euros in the proceedings. Of these, insolvency claims of around 4.47 million euros are currently recognized.

The company, founded in 1962, operates a cable car and four drag lifts. By far the largest owners are the market town of Abtenau with 58.4 percent and the Abtenau Tourism Association with 31.3 percent; a total of 46 shareholders are involved in the mountain railway.

Lease agreement and open questions

A spokesperson emphasized: "Es brauchte Geduld, persönliche Gespräche und die Bereitschaft aller Seiten, Vertrauen wieder aufzubauen, sowie einen geregelten Betrieb für die Zukunft festzulegen." The fact that an agreement was reached is the decisive news for the region.

Dispute over lease agreement

Significance for the region

The Karkogel ski area

The insolvency proceedings

Outlook on the winter season

The role of the municipality

With the approved restructuring plan, operations at the Karkogel ski area can continue. According to the reports, the lease agreement with the lift company is to be extended until 2045.

Previously, there had been reports that a designated responsible party had not agreed to an early extension of the lease agreement with the lift company until 2045 due to allegedly unbridgeable differences with previous responsible parties and owners.

For the market town of Abtenau and the Tourism Association, the rescued mountain railway is a central economic factor. In recent weeks, the region had been watching the further developments with uncertainty.