It's all well and good to point fingers at the "drain" on revenue caused by AOM, Sabena, Littoral, etc. etc. but it's the shell game that SR group plays that really should cause concern.
When they purchased stakes in these foreign airlines these acquisitions were suddenly required to be serviced by SR group owned operations. Swissport, STech, Gate Gourmet etc. Consequently, their operations costs skyrocketed.
If you were an SR Group executive, would you want to pay tax to the French/Belgian Government on real earnings or would you bleed the money over into your Swiss owned companies (answers on a postcard to the usual address). Good luck "finding" the money in the Swiss banking system.
SR is just moving the money from the right pocket to the left.
Aeropers and CCP need to hold the line and not offer (mis)-management the excuses they hope everyone else will buy!
Folks, you're worth EVERY SFranc you make.
dd