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SAir group shares take off amid sale rumours

Rumours are flying over the future of Swissair Keystone

Shares in SAir group have risen sharply in Zurich, following unconfirmed reports that the national carrier, Swissair, which it owns may be sold.

This content was published on November 16, 2000 - 18:13

SAir has refused to comment on the reports which appeared in Thursday's tabloid "Blick" newspaper.

However, the group's share price rocketed, at one stage rising by 11 per cent over Wednesday's closing price. The share price closed 9.5 per cent up at the end of Thursday's trading.

"Blick" reported that an increasing number of SAir group board members were in favour of Swissair being sold to either the German carrier, Lufthansa, or British Airways.

The board is due to meet next Wednesday. Newspaper reports said a number of board members, led by the Credit Suisse head, Lukas Mühlemann, would press for the sale at the meeting.

SAir group said it would not comment on the agenda of the meeting.

The group's share price has dipped in recent months because of the high level of the dollar and the rising price of petrol, as well as its costly investments in foreign airlines.

swissinfo with agencies


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