Banking & Fintech

Traders to focus on Swissair restructuring

This content was published on Sep 30, 2001 Traders will certainly be looking for any news of more restructuring at the debt laden Swissair Group after its chief executive Mario Corti admitted last week to debts of between SFr16-17 billion ($10.0-10.7 billion). After he made a key announcement on the merger of Swissair and its regional airline unit, Crossair, last week, traders will…

Disabled travellers want better access to trains

This content was published on Sep 30, 2001 The rail company has launched a series of initiatives to adapt its facilities, and has hired more staff to aid wheelchair users, as well as those who are blind or deaf. But disabled groups argue that, above all, the federal train company needs to more quickly implement the measures for the estimated 500,000 disabled people…

Swissair Group close to bankruptcy, says Corti

This content was published on Sep 29, 2001 Corti told the Swiss Broadcasting Corporation that Swissair Group’s finances were so tight that “liquid assets are being managed from day to day”. He said the company urgently needed access to credits worth SFr1 billion ($620 million), which he agreed with a group of banks earlier this year. The credits, which were to be provided…

Strike at Sabena continues

This content was published on Sep 29, 2001 Belgian media reported on Saturday that half of Sabena’s flights had been grounded because of the strike. The Belgian Cockpit Association (BCA), which represents the airline’s 1,100 pilots, called on its members to take industrial action because it did not think the company had enough funds to implement the strategy. Sabena’s chief executive, Christoph Müller,…

Swissair cuts threaten Zurich airport

This content was published on Sep 29, 2001 The SFr2.3 billion ($1.43 billion) airport expansion includes a huge parking bay for aircraft and a new terminal and shopping centre linked by a railway. It was given the go-ahead at a time when the authorities expected a huge increase in passenger traffic. Those estimates now look hugely inflated since the Swissair Group unveiled a…

Swissair woes worried markets

This content was published on Sep 29, 2001 Swissair released plans for a major restructuring programme on Monday that would cost thousands of jobs. The move came as the government considered a rescue package for the group in the wake of the US attacks that have undermined the group’s already shaky financial position. The plan unveiled by Swissair’s management envisaged cuts to the…

Compaq reassures Swiss customers

This content was published on Sep 29, 2001 Matheus Meyer, spokesman at Compaq in Switzerland told swissinfo they will continue to meet customers’ needs. “What ever our customers bought from us in either hardware or services they can be sure that we will fulfil all the contracts that we have signed,” explained Meyer. “There will be no reduction in the good service we…

New federal agency to authorise drugs, medical devices

This content was published on Sep 28, 2001 Swissmedic will issue authorisations for new medicines as well as medical devices. It will also keep an eye on the pharmaceuticals market, and companies and production techniques will come under its scrutiny. The new organisation will be the result of the merger of the Federal Health Office’s therapeutic agents’ unit and the inter-cantonal pharmaceutical control…

Swissair shares continue to fall amid uncertainty

This content was published on Sep 28, 2001 The company’s share price has fallen 85 per cent since its high of SFr282.5 last December. On Tuesday, the company’s chairman and chief executive warned that the Group might have to file for bankruptcy because of the “millstone” of debt accumulated by former management. Debt has risen to SFr16-17 billion, up from SFr15 billion at…

Airport operator to press ahead with Bangalore project

This content was published on Sep 28, 2001 Zurich airport’s operator, Unique, is facing a SFr2.3 billion ($1.43 billion) bill for its ambitious expansion programme for the Swiss hub at a time when its main customer, Swissair, is planning to reduce its flight schedule. Nevertheless, it is intending to press ahead with its investment in a new airport in Bangalore. Unique spokesman, Andreas…

Banking & Fintech

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Banking & Fintech

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Traders to focus on Swissair restructuring

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Disabled travellers want better access to trains

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Swissair Group close to bankruptcy, says Corti

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Strike at Sabena continues

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Swissair cuts threaten Zurich airport

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Swissair woes worried markets

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Compaq reassures Swiss customers

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New federal agency to authorise drugs, medical devices

More

Swissair shares continue to fall amid uncertainty

More

Airport operator to press ahead with Bangalore project

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