From Air & Business Travel News:
[quote]SABENA could come to the end of the road very quickly following a
warning by the Belgian government to 49.5% owner Swissair Group that it
must decide by today (Tuesday 26 June) whether to inject more funds into
Sabena or the troubled Belgian flag carrier could face bankruptcy. Last
week Mario Corti, chief executive of Swissair, said that he would not
honour the commitment made by the previous management to increase
Swissair's stake in Sabena from 49.5% to 85%. At present, the Belgium
state holds the majority stake in Sabena. Mr Corti also said he is not
prepared to fund Sabena's ongoing operational losses, making it unlikely
that he would be prepared to take part in any further capital injection.
There are fears concerning the whole of the Swissair Group if it does
not do something drastic regarding its loss-making investments.
Swissair has promised to clarify its strategy further on 12 July.
http://www.sabena.com[/quote
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