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Zurich court backs Swissair acquittal

A Zurich appeals court has upheld the acquittal of former Swissair chief Mario Corti, who in 2007 was cleared of involvement in the national airline's 2001 collapse.

This content was published on June 20, 2008 - 15:20

The court also ruled that the 62-year-old Corti would receive compensation of legal costs totalling SFr697,711 ($674,442).

Canton Neuchâtel, the state of Belgium and two Belgian government-owned companies launched the appeal. Proceedings began on June 13.

Corti had along with 18 others faced charges of mismanagement and fraud. His statements to a SAirGroup general meeting in April 2001 and in the media regarding the company's financial affairs were alleged to have been misleading.

The former airline boss also was accused of misrepresenting a bailout package from a consortium of banks including Zurich-based Credit Suisse and to have bungled the airline's restructuring in 2001.

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