People in Switzerland knew very good that, with grounding SR, one of their best status symbols would be grounded.
That's true, people in Switzerland knew it. But it weren't people in Switzerland
, which grounded the airline.
There was more behind this grounding. Just an example: the involved banks say, that Swissair had enough cash, Mario Corti always said, he hadn't access to these accounts. Just one example to show, how complex this whole thing was.
And forget about Reutlinger or whoever from the management beeing punished. It's far too complicated. A wrong business decision is not a fraud. For example: the report says, that the company didn't act consequently according to their own "Hunter"-strategy, as they only acquired minority stakes in mainly loss-making airlines in Europe. Is this a fraud? No. These were bad decisions.
Perhaps there are more chances here:
Swissair's financial reporting also came under severe criticism.
"The unconsolidated and consolidated financial statements for 1999 and, to a much greater degree for 2000, did not fairly present the economic and financial situation of the SAirGroup," said the report.
IF a fraud can be proved, then it's a whole different story. Unfortunately, I don't remember many CEO's beeing heavily punished in the past. Perhaps we should introduce the good old law:
(sorry ... )
dominguez(dash)online(dot)ch ... Pushing the limits of my equipment