Posts: 169
Joined: Fri Apr 20, 2001 4:51 am

Swissair To Sell Crossair?

Fri Apr 20, 2001 5:01 am

Hello everyone !

Do you think Swissair will have to sell Crossair ?

Any opinion ?

Bye and good flight !

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

RE: Swissair To Sell Crossair?

Fri Apr 20, 2001 5:12 am

i already had a topic about that one month ago, you might like to check it out...

however, there´s, once again, the article i got from well, i´d like to point out that this article is from the 25th or 26th of march, this year, of course.

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.

well, 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 number 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...
but still, 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...

has anyone heard something about air littoral? as most of us know, air littoral is up for sale, and some sources cite that swissair has approached lufthansa to buy air littoral.
somehow, it seems to fit, given the fact that LH has no partner airline in france and they already had some partnership not too long ago (FU was partly a member of teamLufthansa) and that they were interested in acquiring a stake in air littoral, but obviously SR was willing to spend more...
anyone has insight?????

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

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