johnnybgoode
Posts: 2144
Joined: Wed Jan 03, 2001 8:47 pm

Crossair To Be Sold?

Tue Mar 27, 2001 2:19 am

got that from http://www.airliners.net/news

Huge interest as Swissair starts big sell-off

The disastrously troubled parent company of Swissair has started talks with venture capitalists over a sale of its ground-handling division as part of an expected £2 billion disposal of the company's non-core assets.
New SAirGroup chief executive Mario Corti is thought to have held early discussions with possible bidders for Swissport - likely to fetch Swfr1 billion (£410 million) - and is also said to be receptive to approaches for its Crossair commuter jets business and the giant Gate Gourmet airline catering operation.
One possible bidder described British, Continental and US venture capital firms as 'crawling all over' the three SAirGroup peripheral businesses. Swissport International is known to have attracted interest from the private equity arm of Britain's HSBC among other venture capitalists. A 1999 European Union directive meant airports had to give up their monopolies on ground-handling, opening the way for handling specialists to expand their operations across the Continent.
One source said: 'The venture capital guys can see a massive upside in that business, but there is great interest in all three divisions.'
British Airways has been cited as among possible candidates to take over Crossair. Its popularity among business passengers and regular flights into London's City and Heathrow airports could be attractive to BA chief executive Rod Eddington.


at first, i´d like to apologize if this topic drew anyone to attention who expected something more major or more specific, however, for the posts to be read, one needs to catch attention.

i´m certainly aware that all this is in a very premature state, but i think most of you agree that it sounds interesting, and surely deserves some discussion.
personally, i regard this still as rumours but if BA acquired LX, what could this lead to? what about swissair and oneworld?
and if LX will really be up for sale, i´m sure there will be other airlines which might be interested in LX as well, which was already being indicated in the text. perhaps air france, or possibly LH, although they´ve already got a high numbers of partner airlines in central europe and they already face heavy regulatory scrutiny. however, crossair is an excellent airline and for most airlines it´s certainly a valuable target...

best wishes
daniel
If only pure sweetness was offered, why's this bitter taste left in my mouth.
 
Guest

RE: Crossair To Be Sold?

Tue Mar 27, 2001 2:25 am

Swissport is a groundhandling firm? Besides ZRH of course, what other airports do they have large positions at?

Moreover, who else is large in the contract groundhandling business? I know Lufthansa owns GlobeGround (Hudson General in the Americas), but besides the airline's own in-house unionized services what other contract services are there?

Is GateGourmet part of Swissport? And as a further to that query, what other companies provide airline catering in Europe?

thanks
russ

 
johnnybgoode
Posts: 2144
Joined: Wed Jan 03, 2001 8:47 pm

RE: Crossair To Be Sold?

Tue Mar 27, 2001 2:38 am

hey, russ,
hope i could help with at least some info...
i don´t think gategourmet is part of swissport.
the biggest airline caterer, and so providing major services in europe as well (well, it´s owned by LH) is LSG/Skychefs, of which LH holds a majority stake, i believe, and is co-owned by Onex. and (just a little side note: afaik, LSG/skychefs is worldwide the 2nd biggest food manufacturer right behind McDonald´s, so it´s really big!!!)

rgds
daniel

If only pure sweetness was offered, why's this bitter taste left in my mouth.
 
johnnybgoode
Posts: 2144
Joined: Wed Jan 03, 2001 8:47 pm

RE: Crossair To Be Sold?

Tue Mar 27, 2001 11:42 pm

i really don´t understand why SR wanted to sell LX. ok, they need some money.
however, i doubt, if this ever came to be, which i somehow can´t imagine, that ties and a close partnership between SR and LX would cease to exist. SR needs a feeder because there are so many destinations in europe which can´t be served viably with the SR mainline fleet, and one of LX´s roles has always been to provide SR with connecting pax and additionally, serves many routes the SR aircraft are too big for.
somehow, this doesn´t seem to me to be a very logical step for Swissair.
any comments appreciated...

regards
daniel
If only pure sweetness was offered, why's this bitter taste left in my mouth.
 
avion
Posts: 2126
Joined: Tue May 18, 1999 1:28 am

RE: Crossair To Be Sold?

Wed Mar 28, 2001 2:04 am

Hmm

Isnt the worlds biggest food producer nestle ??


I think Gate Gourmet is the worlds 2nd biggest catering service. They just recently aquired Dobbs.
The biggest GG customer is Delta Airlines.

Tom
 
avion
Posts: 2126
Joined: Tue May 18, 1999 1:28 am

RE: Crossair To Be Sold?

Wed Mar 28, 2001 2:13 am

Here i have the figures:

156 Flight kitchens
in 34 Countries
on 6 Continents
with 32'000 Employees.

So its quite big.

Tom
 
Guest

RE: Crossair To Be Sold?

Wed Mar 28, 2001 5:25 am

Are there many airports that have more than one airline catering firm with a large postion or is it like airlines and fortress hubs?

As ATL is all Delta, is ATL also, say GateGourmet?

Or do other companies compete with established caterrers?

thanks
russ
 
Billy
Posts: 890
Joined: Sun Jul 23, 2000 11:18 pm

RE: Crossair To Be Sold?

Wed Mar 28, 2001 6:39 am

Just to add to the sense of urgency at SR, Lufthansa is selling GlobeGround (mentioned earlier). Not the best time to be selling Swissport. It took a long-ish time for KLM to get rid of its cargo handling unit (CSC).
 
Guest

RE: Crossair To Be Sold?

Wed Mar 28, 2001 7:52 am

It will be a stupid move for Swissair if they are selling Crossair. If they did, they'll lose bunch of customer flying to/from Geneva. Most former Swissair's flight based Geneva are now opb Crossair.
 
johnnybgoode
Posts: 2144
Joined: Wed Jan 03, 2001 8:47 pm

RE: Crossair To Be Sold?

Wed Mar 28, 2001 8:22 am

that´s exactly what i´ve been thinking...

btw, billy, LH is just selling 49% of globe ground to fund new capital for further growth of globe ground.

rgds
daniel
If only pure sweetness was offered, why's this bitter taste left in my mouth.
 
User avatar
boeingrulz
Posts: 521
Joined: Thu Sep 30, 1999 2:55 am

RE: Crossair To Be Sold?

Wed Mar 28, 2001 11:42 am

What if SA sells Crossair but retains them as a regional feeder with exclusive contracts to serve in that role?

A separate company providing feeder regional services to a mainline airline is common in the U.S., Skywest feeding UA and Delta, for example.

Carolyn

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