markboston
Posts: 49
Joined: Wed Oct 17, 2001 6:03 am

Swissair/SR Technics-- New Trouble?

Tue Oct 30, 2001 3:37 am



I've read that funding problems at SR Technics threaten to ground the Swisssair fleet again and may derail the rescue package put together last week. Can anyone shed light on this? Will the rescue package survive?

 
elal106
Posts: 939
Joined: Mon Jan 10, 2000 1:50 pm

RE: Swissair/SR Technics-- New Trouble?

Tue Oct 30, 2001 8:54 am

SR Technics has announed that they will run out of cash in 2 weeks and they will have to declare bankruptcy.
I wonder what will happen with them.
Maybe a company will buy them?

good luck SR
elal106
 
elal106
Posts: 939
Joined: Mon Jan 10, 2000 1:50 pm

RE: Again

Tue Oct 30, 2001 2:14 pm

I am sure Lufthansa would buy them...
 
DragonRapide
Posts: 133
Joined: Thu Sep 27, 2001 6:59 pm

RE: Swissair/SR Technics-- New Trouble?

Tue Oct 30, 2001 3:55 pm

The new Swissair - Crossair - Phoenix or whatever you wanna call it, anyway that airline's CEO said they needed SR Technics to survive. Without them its fleet would be grounded since it would be impossible to find another service taking over from SR Technics in 2 weeks time.
As I understood 2 options are available:
1/ Crossair takes over SR Technics
2/ Extra money goes to SR Technics, Swiss Governement apparently said no and declared it is up of the Canton of Zurich to provide the money.

Problem is that with the bailout package agreed for Swissair - Crossair, SR Technics was excluded; The banks apparently didn't want to give them money because they considered them not credit worthy.

That's all I know.
 
LJ
Posts: 4103
Joined: Wed Nov 17, 1999 8:28 pm

RE: Swissair/SR Technics-- New Trouble?

Wed Oct 31, 2001 4:34 am

The swiss government will pull out of the Swissair rescue plan if there's no money within 24 hours for the support departments, according to the BBC.

http://news.bbc.co.uk/hi/english/business/newsid_1628000/1628104.stm

Regards
Laurens
 
cedarjet
Posts: 8101
Joined: Mon May 24, 1999 1:12 am

RE: Swissair/SR Technics-- New Trouble?

Wed Oct 31, 2001 5:01 am

It looks like they're all fucked.
fly Saha Air 707s daily from Tehran's downtown Mehrabad to Mashhad, Kish Island and Ahwaz
 
SR3496
Posts: 774
Joined: Sat May 06, 2000 8:21 pm

RE: Swissair/SR Technics-- New Trouble?

Wed Oct 31, 2001 6:22 am

I heard tonight on the radio here in Switzerland that the Canton of Zurich won't pay for SRTechnics!!!

Now it's really gonna be difficult to avoid another grounding. But we'll see, let's hope that banks or companies will pay the money to SRTechnics.

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