Internal: Archive

Belgium to sue Swissair for reneging on Sabena payments

This content was published on Oct 2, 2001 Belgium’s privatisation minister, Rik Daems, confirmed on Tuesday that Sabena would seek to take Swissair to court. His comments came after the Swiss airline canceled flights to Belgium, saying it feared its planes would be seized. Swissair was on Monday due to pay Sabena €120 million ($110 million) as part of a €430 million re-structuring…

Zurich airport’s business plan shredded

This content was published on Oct 2, 2001 On Tuesday, shares in Unique, the company that runs the airport, were suspended to prevent their freefall as the airport faces the loss of its main customer. Plans to turn Zurich airport into a huge international hub will now have to be shelved as the new airline radically scales back its operations. In addition, Crossair…

Unaxis cuts 600 jobs

This content was published on Oct 2, 2001 Unaxis said the cuts, representing 7.5 per cent of the company’s workforce, would affect all levels and would be carried out through natural attrition wherever possible. A total of 190 jobs are to be cut in Switzerland and Liechtenstein, with 90 of those being direct layoffs. “The extent of the market decline is extraordinary and…

Crossair to fly the flag as Swissair gives up the struggle

This content was published on Oct 2, 2001 The plan leaves Crossair as the country’s flag carrier. At a press conference in the federal capital, Bern, the Swiss government said it would not become involved in the financing of the new venture. The finance minister, Kaspar Villiger, said the government regretted the “painful consequences” which would follow for a section of the Swissair…

Cows come home to St Cergue

This content was published on Oct 2, 2001 St Cergue is one of only a handful of towns in French-speaking Switzerland to hold a special festival devoted to the centuries-old practice of transhumance – bringing the herds down from the mountains for the winter months – and probably the only one not in the Alps. Here, the festival is known as the Désalpe,…

Swissair cancels flights to Brussels amid Belgian anger

This content was published on Oct 2, 2001 Swissair’s financial collapse on Monday came on the day it was to invest SFr200 million as past of an agreement with the carrier’s other shareholder, the Belgian government. “We don’t comment on security issues,” said a company spokesman when asked if Swissair was afraid its planes might be impounded if they flew to Brussels. Belgium…

UBS reports suspicious transactions

This content was published on Oct 2, 2001 UBS, the country’s largest bank, said it uncovered the transactions while comparing its customer list with a list of some 200 names of suspects distributed by the United States Justice Department. The accounts were small, and none was in a Swiss branch, UBS said. Only one transaction took place in Europe, the remainder were on…

Swissair pilots in shock at end of aviation era

This content was published on Oct 1, 2001 “We are all shocked and dismayed that the announcement was made so quickly and violently,” said Hannu Ruprecht, a Swissair pilot and spokesman for Aeropers, the Association of Swissair cockpit personnel. But in an interview with swissinfo, Ruprecht confirmed his union was “willing and able to negotiate a new contract.” “We are very curious about…

Crossair to replace Swissair as country’s flag carrier

This content was published on Oct 1, 2001 Under the plan, which Swissair Group accepted on Monday, the company will sell its holding in Crossair to Switzerland’s two biggest banks, UBS and Credit Suisse for about SFr260 million. In addition, Swissair will transfer many of its key European and long-haul routes to Crossair, which in effect will become the country’s flag carrier. The…

Swissair accepts banks’ rescue plan

This content was published on Oct 1, 2001 Swissair Group boss, Mario Corti, said the company had accepted the banks’ plan on Monday, ahead of a government meeting to decide whether to help save the group from bankruptcy. That meeting is still scheduled to go ahead. UBS and Credit Suisse put forward the rescue package on Sunday. The plan envisages providing SFr1 billion…

Internal: Archive

Popular Stories

Most Discussed

Internal: Archive

More

Belgium to sue Swissair for reneging on Sabena payments

More

Zurich airport’s business plan shredded

More

Unaxis cuts 600 jobs

More

Crossair to fly the flag as Swissair gives up the struggle

More

Cows come home to St Cergue

More

Swissair cancels flights to Brussels amid Belgian anger

More

UBS reports suspicious transactions

More

Swissair pilots in shock at end of aviation era

More

Crossair to replace Swissair as country’s flag carrier

More

Swissair accepts banks’ rescue plan

Popular Stories

Most Discussed