Banking & Fintech

Crossair details transformation plan

This content was published on Oct 25, 2001 Crossair said on Thursday that its equity capital would be boosted by SFr2.74 billion ($1.65 billion) following an October 22 national salvage deal by the Swiss public authorities and private companies for a national airline company flying both short and long haul distances. Crossair said it planned to split its shares five for one while…

Head of Presence Switzerland resigns over Swissair links

This content was published on Oct 24, 2001 Paul Reutlinger had come under pressure to step down because of his long association with the airline and his role as boss of the Belgian carrier, Sabena The director of Presence Switzerland, Johannes Matyassy, told a press conference in Geneva that Reutlinger had handed his resignation to the foreign minister, Joseph Deiss, and would step…

ABB profits continue downward plunge

This content was published on Oct 24, 2001 At the same time, revenue increased four per cent, reaching $16.877 billion. Earnings before interest and tax were down 26 per cent at $766 million. There was some good news for staff at ABB Switzerland after the company announced that staff reductions, announced by the ABB Group in mid-July involving 12,000 posts worldwide, can be…

Adecco revenue on the rise

This content was published on Oct 24, 2001 However, revenue declined by four per cent in the third quarter compared with the same period last year. The company’s operating income gained seven per cent to SFr964 million. Cash flow was SFr675 million for the first nine months of the year. The third quarter decline was due to a drop in volume in major…

Expo gives temporary workers something to smile about

This content was published on Oct 24, 2001 In total, Expo.02 is looking for 3,000 temporary staff to fill positions at all four Expo sites across the country for a total of 159 days. There are 1,500-2,000 jobs up for grabs, which organisers are hoping to fill with part-time workers and people who want to job share. At the moment some 400 people…

EU concerned about state financing of Crossair

This content was published on Oct 24, 2001 The EU commission raised doubts about the financing plan of the new Crossair and the sums it involved, suggesting it could contravene EU anti-competition laws. Earlier on Tuesday a spokesman for the European Union said that Brussels would consider asking Switzerland to modify its Swissair salvage package if it was deemed to go against such…

Analyst warns that success of new airline far from secure

This content was published on Oct 23, 2001 Monday’s decision by the Swiss government and the business community to pump more than SFr4 billion into the venture ($2.4 billion) has left most financial analysts waiting for more information before making any recommendations to investors. The new airline would be built from the remains of Swissair, and based on the regional airline Crossair. However,…

EU concerned about state financing of Crossair

This content was published on Oct 23, 2001 The Swiss government informed Brussels on Monday of its decision to support the airline. President Moritz Leuenberger was expected to talk with the European transport commissioner, Loyola de Palacio, on Tuesday. Palacio has already criticised the Swiss government for giving Swissair a SFr450 million bridge loan earlier this month to get its planes back in…

Swiss Re seeks to limit exposure to attacks

This content was published on Oct 23, 2001 The world’s second largest re-insurer on Monday sought a “declaratory judgement” from a United States court over whether the September 11 attacks on the twin towers constituted a single insured event, or two, given that two aircraft were crashed into the buildings. The move is aimed at limiting insurers’ exposure to $3.5 billion – the…

Unions relieved by rescue plan

This content was published on Oct 23, 2001 Joerg Drittenbass, spokesman for Kapers, the cabin crew union representing both Swissair and Crossair, told swissinfo his union was very happy the uncertainty was over. “However,” he said, “there is still a lot of work to do to restructure and build a new airline.” Drittenbass said the union is willing to work with the Crossair…

Banking & Fintech

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Banking & Fintech

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Crossair details transformation plan

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Head of Presence Switzerland resigns over Swissair links

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ABB profits continue downward plunge

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Adecco revenue on the rise

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Expo gives temporary workers something to smile about

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EU concerned about state financing of Crossair

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Analyst warns that success of new airline far from secure

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EU concerned about state financing of Crossair

More

Swiss Re seeks to limit exposure to attacks

More

Unions relieved by rescue plan

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