CaptainChris
V.I.P.-Class-Member
- Εγγραφή
- 29/07/2003
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- Thessaloniki, Greece, EU
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- www.captain-chris.com
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- BAW
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Lufthansa and Swiss International Air Lines have struck a conditional, informal deal that could lead to the German carrier taking over its smaller rival, a Swiss magazine said.
"In the best of cases, an official announcement of the buy out could happen... in autumn and would translate into an integration of the two companies' operations by the 2006 summer timetable," Swiss Bilan magazine said in this week's edition, citing "various sources".
Swiss and Lufthansa said they did not comment on market speculation.
Swiss would first have to raise at least CHF300 million Swiss francs (USD$247 million) in a recapitalization, become more productive by reaching an agreement with its pilots and ground staff and end leasing contracts on planes.
Speculation that the two carriers may link up has flared since Swiss failed to join the oneworld strategic alliance, led by British Airways in June last year.
But Lufthansa said as recently as January that it was not in talks with Swiss or any of its shareholders about a possible takeover.
Swiss, formed from the remnants of failed predecessor Swissair and regional carrier Crossair, said last month it would cut its regional fleet and trim 800 to 1,000 jobs as it aims to become profitable amid fierce pressure from low-cost carriers.
Swiss Chief Executive Christoph Franz then declined to comment whether Swiss was in partnership talks with Lufthansa.
(Reuters)
"In the best of cases, an official announcement of the buy out could happen... in autumn and would translate into an integration of the two companies' operations by the 2006 summer timetable," Swiss Bilan magazine said in this week's edition, citing "various sources".
Swiss and Lufthansa said they did not comment on market speculation.
Swiss would first have to raise at least CHF300 million Swiss francs (USD$247 million) in a recapitalization, become more productive by reaching an agreement with its pilots and ground staff and end leasing contracts on planes.
Speculation that the two carriers may link up has flared since Swiss failed to join the oneworld strategic alliance, led by British Airways in June last year.
But Lufthansa said as recently as January that it was not in talks with Swiss or any of its shareholders about a possible takeover.
Swiss, formed from the remnants of failed predecessor Swissair and regional carrier Crossair, said last month it would cut its regional fleet and trim 800 to 1,000 jobs as it aims to become profitable amid fierce pressure from low-cost carriers.
Swiss Chief Executive Christoph Franz then declined to comment whether Swiss was in partnership talks with Lufthansa.
(Reuters)
ktl) na voh8hsoun thn etaireia epi toutou.
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