PHX Flyer
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Joined: Tue Apr 17, 2001 9:52 pm

LTU Heading For Bankruptcy

Thu Aug 23, 2001 6:23 am

On Aug. 20, CEO Sten Daugaard said in an interview with German business paper "Handelsblatt" that the airline will run out of cash by the spring of 2002, and that they will not be able to recover without a fresh capital injection.
Since it ain't gonna come from Swissair, what options does this leave LTU with?

Personally, I think the best solution would be, if Swissair sold their stake to British Airways and let them merge LTU with Deutsche BA (see my previous posting under "Bye Bye Deutsche BA"). This would finally create a serious competitor for Lufthansa. It's really hard to believe that a country as big as Germany, and with a deregulated aviation market, has only one major flag carrier.
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Joined: Wed Jan 03, 2001 8:47 pm

RE: LTU Heading For Bankruptcy

Fri Aug 24, 2001 3:12 am

turning LTU into a scheduled carrier and merging it with DI could create a true competitor.
but neither DI is in a good shape and has never returned a profit, and BA is obviously interested in selling or shutting it, so i´m wondering if that would really be an option.

If only pure sweetness was offered, why's this bitter taste left in my mouth.
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Joined: Wed Jan 24, 2001 1:44 pm

RE: LTU Heading For Bankruptcy

Fri Aug 24, 2001 3:27 am

Is it true that they have suspended thier YYZ and LAX flights temporairly (with intent to re-start)? I read this in Airliner World. They also suspened MIA-SJO (continuation of DUS-MIA) last April, but I think that is seasonal in the first place.