SWISS Board decision concerning top management and capital reduction
SWISS (Swiss International Air Lines) is one of the
world’s newest international airline brands with over 70 years of
experience and more than 10,000 staff around the world.
Brennwald, managing director of operations responsible for engineering and
Svensson, managing director of finance responsible for finance and corporate
SWISS has daily flights between Bangkok and Zurich, as
well as Bangkok and Singapore, with convenient connections from Zurich to
all major European cities, as well as Africa, North and South America, and
SWISS has completed the placement of its new senior
management level staff. The appointment of Ulrik Svensson as managing
director of finance responsible for finance, and corporate services and
Manfred Brennwald as managing director of operations responsible for
engineering and flight operations, completes the senior management team at
The appointments were made in the context of a new
management level in the top management structure.
Reduction in capital
The Shareholder’s meeting on May 6 2003 will be called
to vote on a possible cut in capital. Given that the company cannot operate
profitably in the current environment, net equity may end up falling below
half the level of the capital, in which case the Swiss Code of Obligations
requires action to be taken.
The Board of Directors wishes to prevent net equity from
falling below 50% and will therefore propose that the par value of the
shares be reduced from 50 to 32 francs at the forthcoming ordinary
Shareholder’s Meeting. It will also reduce the discrepancy between the
nominal value and the market value of SWISS shares and bring tax benefits
for the company.
Contract for new A340 with SR
SWISS intend to outsource maintenance work on the new
Airbus A340-300 jets, which will join the fleet in June, to SR Technics.
This contact will supplement the existing maintenance contact between SWISS
and SR Technics for the Airbus A320s and A330s. The contact will run for six
Valuable synergies will be capture by having all SWISS
Airbus aircraft serviced by SR Technics. SR Technics looks after SWISS
aircraft under a “Total Maintenance Contract”. This means it is
responsible for all the technical work on the cells, components and engines.
SWISS modifies aircraft orders
SWISS is responding to the crisis in the air transport
industry by modifying its current fleet renewal program. Adjustments are
being made to both the number of EMBRAER aircraft ordered and the timetable
for their delivery.
For more information about Swiss international Air Lines please visit
website www. swiss.com.
KLM’s first E-ticketing passenger in Thailand, Fergus Sinclair, is welcomed at Bangkok airport by KLM staff
left the photo shows Lackana Wantaywin, KLM Sales Manager Thailand; and
Fergus Sinclair, KLM’s first E-ticketing passenger in Thailand; Hans
Jeronimus, KLM Airport Services Manager; Sumeth Rangsithanasak, KLM Deputy
Service Manager and Flight Operations Manager.
Hong Kong Department
of Health informs Lufthansa about
passenger with SARS
Lufthansa was informed on April 14 by the Hong Kong
Department of Health (DH) that one of its passengers had been diagnosed as
suffering from the lung disease SARS.
The male 48-year-old passenger traveled with Lufthansa in
the period between 30 March and 4 April.
Lufthansa, of course, fulfilled the requirements demanded
by the Hong Kong authorities. Thus, the passengers and Lufthansa employees
who were in direct contact with this person have been contacted and informed
about the situation by Lufthansa.
The prescribed disinfection of the aircraft concerned was
organized and conducted immediately.
According to the current state of knowledge, the
probability that anyone will become infected with the Serious Acute
Respiratory Syndrome (SARS) during a flight is very remote. In the unanimous
opinion of the World Health Organization as well as the German Foreign
Ministry, normal everyday contacts, such as the stay on board, are not
Air India ready for bids on MLCR aircraft
The Air India Board cleared the decks for opening of
financial bids invited by Air-India for Medium Capacity Long Range (MCLR)
aircraft at its recent meeting held in Mumbai.
The two aircraft under consideration are Boeing 777-200
ER and A-340. These aircraft were identified on the basis of Air-India’s
requirements for a minimum of 250 seats in three class configuration. The
Air-India Board had in its earlier meeting, accorded approval for purchase
of ten MCLR aircraft with seven options.
The financial bids, which have already been received by
Air-India, will now be opened and recommendation for purchase of one of the
two short-listed aircraft is expected at the next meeting of the Board.
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