Banking & Fintech

Name for new airline due for release

This content was published on Jan 15, 2002 After the board meeting, there was no comment on the name of the new company which involves an enlarged Crossair taking over 52 aircraft from its former sister company, Swissair. Swissair collapsed last October after accumulating huge debts. Most analysts expect the airline’s name to involve some combination of the words “Swiss” and “air” possibly:…

Swiss youth hostels have good year

This content was published on Jan 14, 2002 Youth hostels in Switzerland were full over the winter of 2001, resulting in a 7.8 per cent rise in profits for the year. The Swiss Youth Hostel association (AJS) says the new profits, equal to SFr23 million, are especially worth noting, after the number of beds were cut by 1.9 per cent to cope with…

Managers become bolder with buyouts

This content was published on Jan 14, 2002 The number of management buyouts (MBOs) fell slightly in 2001 compared with the previous year, but the size of firms being taken over by their management has been rising significantly. A report from the Swiss Private Equity and Venture Capital Association (SECA) and The Corporate Finance Group show that the number of MBOs in Switzerland…

Roth says SNB has no euro rate target

This content was published on Jan 14, 2002 Exporters should be able to adapt to the franc’s strength, he says. In an interview with the French language newspaper, Le Temps, Roth said that while the exchange rate played an important role in the central bank’s monetary decisions, it was not the only factor. He said it was not by changing the exchange rate…

Indian software keeps Swiss securities safe

This content was published on Jan 14, 2002 The software business is the most thriving sector of the Indian economy and Swiss companies have not been slow in outsourcing their work to Indian experts. The partner of choice for many Swiss companies including UBS, Credit Suisse, Swisscom and the Federal Railways has been the Indian software company, Tata Consultancy Services (TCS), part of…

Zurich’s vote gets new carrier into starting blocks

This content was published on Jan 14, 2002 The investment was backed by 55.5 per cent of Zurich’s voters – a move which analysts say will safeguard around a thousand jobs in the area. The new airline, yet to be named, will replace the collapsed Swissair. Crossair’s management said the decision was a huge vote of confidence. “This approval meets a further condition…

Canton Zurich backs crucial Crossair credit plan

This content was published on Jan 14, 2002 In a key ballot on Sunday, 55.5 per cent of voters in the canton of Zurich agreed to back the investment – a move which analysts say will safeguard thousands of jobs. “The vote will save jobs in the short term, but not in the long term,” aviation analyst, Sepp Moser, told swissinfo. Moser, who…

Crossair in alliance talks with Lufthansa

This content was published on Jan 13, 2002 Crossair has held several meetings with Lufthansa, and more are scheduled, according to a report by the Sunday newspaper, “SonntagsZeitung.” It said that Crossair boss, André Dosé, had already met his Lufthansa counterpart, Jürgen Weber. The Swiss regional carrier is to form the backbone of Switzerland’s new national airline following the collapse of Swissair. It…

Stock markets hope for better 2002

This content was published on Jan 13, 2002 The Swiss Market Index, comprising of 27 of the country’s foremost companies, performed somewhat worse than the American market but in line with most other European markets. New York’s Dow Jones Industrials ended the year down seven per cent. In Europe, London’s FTSE suffered a decline of 16 per cent, with the Frankfurt Dax down…

National airline in focus for business

This content was published on Jan 13, 2002 Crossair’s board meets on Monday to discuss possible names for the new airline. Several suggestions have been put forward from “Air Switzerland” to “Swiss Airlines” to more abstract ideas such as “Mountain Air”. The Crossair board has been advised by several advertising agencies over the new identity. Most analysts expect the name to include some…

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Name for new airline due for release

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Swiss youth hostels have good year

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Managers become bolder with buyouts

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Roth says SNB has no euro rate target

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Indian software keeps Swiss securities safe

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Zurich’s vote gets new carrier into starting blocks

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Canton Zurich backs crucial Crossair credit plan

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Crossair in alliance talks with Lufthansa

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Stock markets hope for better 2002

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National airline in focus for business

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