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Crash sparks compensation debate

This content was published on Jul 3, 2002 But Swiss federal authorities insisted on Wednesday that talk of legal proceedings was premature. They said the facts about the collision of a Boeing 757 cargo jet with a Russian passenger aircraft would first have to be made public. Urs Lauener, an air navigation services expert at the Federal Office for Civil Aviation, said no…

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Alarm system was not operating, say officials

This content was published on Jul 3, 2002 Carlo Bernasconi, head of operations at the Swiss air traffic control body, Skyguide, said a collision warning system at Zurich airport was out of action for maintenance checks. But he refused to speculate on whether the accident could have been prevented if the system – which sounds an alarm if there is danger of a…

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Tecan stock plummets

This content was published on Jul 3, 2002 Tecan was one of the day’s biggest losers on the Swiss stock exchange falling to SFr50 from its previous close of SFr58.55. The stock has been under pressure since reporting a decline in first quarter net profits earlier this year. Some analysts believe Wednesday’s market reaction was unjustified. Analysts at the cantonal bank of Zurich…

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Swiss get visit from Europe’s taxman

This content was published on Jul 3, 2002 The meeting, which took place on Wednesday in Basel, marks the beginning of political discussions between Switzerland and the European Union on the issue of the taxation of EU residents’ savings. The Swiss finance ministry – which has repeatedly stressed that banking secrecy is non-negotiable – said the discussions at the meeting were both “informal…

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Alarm system was out of action, say officials

This content was published on Jul 3, 2002 Carlo Bernasconi, head of operations at the Swiss air traffic control body, Skyguide, said a collision warning system at Zurich airport was out of action for maintenance checks. But he refused to speculate on whether the accident could have been prevented if the system – which sounds an alarm if there is danger of a…

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Ascom announces major Portuguese contract

This content was published on Jul 3, 2002 AENOR has instructed Ascom to install a toll system covering 22 toll collection stations along a 170km stretch of motorway. The contract, worth €8.7 million (SFr12.74 million), involves the company’s MultiToll technology that provides on-line access to all parts of the system. In a statement from its headquarters in Bern, Ascom said the system simplified…

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Investigation continues into cause of mid-air crash

This content was published on Jul 3, 2002 On Wednesday morning, investigators combing the crash site – spread over some 30 kilometres near Lake Constance – said they had recovered the black box flight recorder from the Boeing 757 freight jet. A flight-data recorder from the other jet, a Tupolev 154 charter aircraft with 52 children on board, was found on Tuesday. Hundreds…

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Papers ask: who is to blame for fatal air crash?

This content was published on Jul 3, 2002 The “Financial Times” said the investigation into the causes of the crash – Europe’s first mid-air collision in nearly 26 years – was likely to focus “as much on the actions of the Swiss air traffic controller during the last few minutes before impact as on the failure of the Russian jet to react to…

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Mid-air collision kills 71

This content was published on Jul 2, 2002 The two aircraft, a Tupolev 154 charter aircraft belonging to Russia’s Bashkirian Airlines and a Boeing 757 owned by the freight company, DHL, slammed into each other late on Monday night at over 11,000 metres. The impact sent flaming debris across more than 30 kilometres of southern Germany, near Lake Constance on the Swiss-German border.…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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On the road to Expo

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Crash sparks compensation debate

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Alarm system was not operating, say officials

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Tecan stock plummets

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Swiss get visit from Europe’s taxman

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Alarm system was out of action, say officials

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Ascom announces major Portuguese contract

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Investigation continues into cause of mid-air crash

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Papers ask: who is to blame for fatal air crash?

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Mid-air collision kills 71

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