Short of cash after a financially strenuous year marked by a strong rise in fuel prices, the Austrian regional AirAlps has relinquished its exclusive code- sharing agreement with KLM and found new investors in Northern Italy.
Swiss International Air Lines
The management of Swiss regional airline Swisswings (formerly Air Engiadina) has announced the successful completion of a refinancing program that provided SFr8 million ($5 million) in fresh capital before the subscription deadline of Aug. 30, 2001. The company previously reduced share capital by 60 percent to liquidate accumulated debt.
The scheduled airlines, after years of seeing business-class travelers lured away by business aviation operators, are fighting back.
Major structural changes announced by Swiss International Airlines in June include a considerable reduction of the company’s regional network with the start of its winter timetable, in late October. But while Swiss frantically clutches for a financial lifeline, there appears no shortage of newcomers willing to fill the airline’s shoes.
The demise of Swiss national carrier Swissair has pushed one of Europe’s largest regional airlines to a critical juncture in its development. Crossair–now fully independent of the bankrupt flag carrier–must chart a new course over unfamiliar territory, leaving investors optimistic over the potential for growth but wary of untold pitfalls.
VistaJet, a Swiss-based on-demand charter and aircraft management specialist with operations in Austria and Germany and expected to open in Asia in the near future, has ordered three Airbus Corporate Jetliners (ACJs), Airbus announced yesterday at the NBAA Convention.
Airbus launched an executive/VIP version of an A319 airliner in 1997 and, a decade later, the aircraft manufacturing giant (Booth No. 4339) is celebrating a milestone with more than 100 Airbus Corporate Jet sales, valued at $5.5 billion.
Beginning in January, PrivatAir will offer daily flights between Zurich and Newark Liberty International Airport, N.J., in partnership with Swiss International Airlines.
Swiss-based aviation services provider Jet Aviation has tapped Norbert Marx as senior vice president and general manager of the company’s Basel unit. Marx succeeds 34-year company veteran Rainer Albecker, who will remain with Jet Aviation’s completions operation.
Spurred by representatives from St. Gallen/Altenrhein Airport, five other smaller Swiss airports–at Bern, Buochs, Lugano, Samaden and Sion–have launched an attempt to secure a larger share of the country’s business aviation traffic.