Big News regarding the SAirGroup just came out today. Check out the SAirGroup's Press Release:
SAirGroup Board shifts emphasis of corporate strategy and reorganises management
Zurich, January 23, 2001 - In further assessing the company's current situation, the SAirGroup Board of Directors has reaffirmed the Group strategy that focuses on the two main pillars of airline and airline-related sectors. The Board agrees, however, that the bottom line of the airline business must be successively improved.
The SAirGroup therefore aims to substantially upgrade the appeal of Swissair, Crossair and Sabena while simultaneously enhancing the level of cooperation among the airlines. In doing so the Group will place a great deal of emphasis on the quality of passenger service. As Swiss airlines, Swissair and Crossair will increasingly utilise the quality location afforded by Switzerland in an effort to promote an attractive and top-quality product.
The Group's alliance strategy will be aimed squarely at making the airline business profitable. This necessitates, among other steps, reducing the risk associated with equity holdings in the airline sector. The Group will make no further investments or acquisitions in this area.
The SAirGroup and Philippe Bruggisser have mutually agreed that Mr. Bruggisser leave his post with the Group with immediate effect. Group Chairman Dr. Eric Honegger will assume the function of Group CEO on an interim basis. Wolfgang Werlé, CEO of SAirRelations, will serve as his deputy. The Group's SAirLines division, which includes Swissair, Crossair, Balair CTA, Sabena, AMP and the Group's airline equity holdings, will now be managed by Moritz Suter, CEO of Crossair. Mr. Suter will also serve in the Group's Executive Management body.
Beat Schär has been named new CEO of Swissair while André Dosé will take over that position at Crossair. Mr. Schär was previously responsible for flight operations at Swissair and Mr. Dosé held the same position at Crossair.
All decisions reached by the Board of Directors were unanimous in nature.
What do you think will happen? The end of Qualiflyer? A new era in oneworld? The selling of the unprofitable lines? Do you think it's good?
All opinions are welcome.