Manufacturing Industry
Swiss government to make decision on airline merger
Airline Industry Information, March 21, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
The Swiss government has said that it plans to make a decision on Tuesday (22 March) on a takeover offer for Swiss International Air Lines by German airline Lufthansa.
The cabinet is evaluating the Lufthansa offer and the strategic alternatives for the national carrier, said the Swiss finance ministry in a statement.
Swiss, formed in early 2002 from the remnants of Swissair and regional carrier Crossair, was created by a CHF2.7bn bailout funded by the government and corporations so that Switzerland would continue to have a national airline. The Swiss government is the biggest stakeholder in the airline.
The finance ministry said that both Swiss and Lufthansa would hold separate board meetings on Tuesday (22 March) and the government will communicate its decision after those meetings.
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