According to a media report, the Austrian investor and billionaire Michael Tojner wants to merge his company Montana Aerospace with the Airbus subsidiary Premium Aerotec and create a powerful industry leader in the aviation supply industry.

Tojner plans to carry out a capital increase at Premium Aerotec together with other partners and the German government and to use the money to settle other companies under the umbrella of the joint venture, "Spiegel" reported today. An IPO should then take place later. Tojner's initiative could help small and medium-sized supplier companies in particular to cope with the slump in demand at Airbus in the wake of the pandemic.

The German government reported that the plan has so far received little response. The reason could be an investigation that is currently pending at the Economic and Corruption Prosecutor's Office (WKStA) in Vienna and is directed against Tojner and 34 other people. The entrepreneur and former business partner are suspected of having taken over several non-profit housing associations at a dumping price and of having caused Burgenland damage of up to 120 million euros by paying far too little compensation for the loss of non-profit status. Tojner, however, rejects any allegations.