Lufthansa-Swiss deal takes off
The supervisory board of Deutsche Lufthansa and the board of directors of Swiss International Air Lines have agreed on a joint business model that will see Swiss being taken over by the German airline.
According to the plan, Swiss is to remain a mostly independent airline managed within the Lufthansa system. Ultimately, Swiss will be completely taken over by Lufthansa. The acquisition has been broken down into several steps and the purchase price for the complete acquisition of Swiss is estimated at between EUR 45-300 (zł.180-1,200) million.
"The most important aspect is that it will produce clear benefits for our customers," says Lufthansa's chairman and CEO, Wolfgang Mayrhuber. He claims that both airlines will benefit from the integration.
"Swiss will be able to permanently fulfill its task even better of connecting Switzerland with the world," says Christoph Franz, president and CEO of Swiss. He hopes that the creation of a competitive cost structure will provide the basis for the development of Swiss, and the airline will continue a restructuring program announced in January 2005. (Reuters) M.P.
According to the plan, Swiss is to remain a mostly independent airline managed within the Lufthansa system. Ultimately, Swiss will be completely taken over by Lufthansa. The acquisition has been broken down into several steps and the purchase price for the complete acquisition of Swiss is estimated at between EUR 45-300 (zł.180-1,200) million.
"The most important aspect is that it will produce clear benefits for our customers," says Lufthansa's chairman and CEO, Wolfgang Mayrhuber. He claims that both airlines will benefit from the integration.
"Swiss will be able to permanently fulfill its task even better of connecting Switzerland with the world," says Christoph Franz, president and CEO of Swiss. He hopes that the creation of a competitive cost structure will provide the basis for the development of Swiss, and the airline will continue a restructuring program announced in January 2005. (Reuters) M.P.
