Sabena?

[f/oforlife]

Hi
Does anyone have some news about what is happening @ sabena.
Heard they were almost bancrupt
With Belgium picking up presidency of the E.U that would be an image boost
Is the government gonna fund them again?

[Doodles]

Here's a thought...maybe they are waiting for the Presidency so funding can be whisked thru. Don't think it looks too good without some new funding

[Biggles Flies Undone]

Sabena announced this morning that the board meeting due this afternoon had been postponed due to ongoing talks with SwissAir.

SwissAir currently own 49.5% of Sabena (balance held by Belgian state) – SwissAir share due to rise to 85% but SwissAir Chairman Mario Corti has said that SwissAir would not keep funding losses at Sabena and did not want to boost its stake.

Sabena's board last week said that additional funding would be critical to implement a business plan designed to save the airline.

[Stratocaster]

This is a rumour network, right ?
Okay, this is what WAFN (http://www.wafnews.com) says:

Sabena
- A320-family: 14 orders to be cancelled
- remaining B737s ('don't know how many left) are maintained in the fleet
- some Avro85 & Avro100 will be replaced by smaller ERJ-135 & ERJ-145.
- all A321s (3) will be sold to the Belgian Air Force to replace their A310s (glad I'm not paying taxes over there, they just bought 2 ERJ-135LRs)

Sobelair
- disposes one of its B737-300
- replaces/supplements its B737-400s with B737-800s or B757s
- replaces its B767-300ERs with B757s.

I guess we could say that Sabena finally choses the aircraft they always wanted to operate: Boeing planes (bye-bye Flightlease).

[Avman]

I don't see the commercial sense in keeping a mixed fleet of A319/320s and Boeings as opposed to eliminating remaining Boeings for an all Airbus fleet (as operated by Swissair). WAFN is the weakest link. Goodbye!

[flugpants]

How can Swissair be purchasing more shares in Sabena when it has just sent AOM/AIR Liberte to the wall??
Is the SAIR group`s plan just to take everyone`s pants down or what??

[Stratocaster]

I wish I could find again that interesting forum where an insider said that in the Sabena hangar that took fire in BRU a few years ago there was also the office of the guy in charge of the fleet renewal. His conclusions were "Buy Boeing !" and all his work proving that disappeared without a trace just before signing the contract with Airbus.

This guy gave some more info but I can't remember. I'll try to find it !

[The Guvnor]

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

A WEEKLY NEWS REVIEW PUBLISHED EVERY TUESDAY
PO Box 1315, Potters Bar, Herts EN6 1PU
Tel: 01707 665454 Fax: 01707 660330 e-mail: [email protected]

[back to front]

This may sound stupid and ignorant of the real facts, but my question is how can SA Group a non EU company own more than 49.5% of an EU company?
Please let me know if I am going down the wrong track here.

[mach 84]

latest news is that their CEO presented a plan to axe 2000 jobs, 250 of them pilots,
500 flight attendants. the flight operations will be concentrated on the european business.

[xyz_pilot]

back to frount

The EU and swiss have a deal on airline ownership. This is what would let SR own all of SN.

regards

xyz

[GEENY]

But it has to be ratified by the respective governments(parliaments) first.The Belgians are late(together with the others)....