Swiss going broke?
Sims Fly Virtually
Join Date: Jun 2001
Location: Used to be 3rd Sand Dune from the Left - But now I'm somewhere else somewhere else.
Posts: 704
Likes: 0
Received 0 Likes
on
0 Posts
Dash,
Look on the bright side. At least you won the tickets and don't have hard-earned cash at risk
Look on the bright side. At least you won the tickets and don't have hard-earned cash at risk
Join Date: May 1999
Location: Genolier, Switzerland
Posts: 198
Likes: 0
Received 0 Likes
on
0 Posts
Burning cash...
Swiss is burning 2-4 million francs a day, and will run out of cash eventually, possibly during October. I am using my FF miles as quickly as possible, but so many people are doing so that it is tricky.
Currently in takeover talks with Lufthansa. LH offer allegedly conditional on injection of 500 million more from the current shareholders. LH offer allegedly motivated by LH board members who have personal interest in Swiss paying for their Airbus fleet.
Current serious cash problems do not take two things into account. First, the restructuring costs for the layoffs that have already taken place are allegedly not yet in the accounts, and second, there is a 100 million judgement in favour of Air Liberté or one of the other French companies which has allegedly not yet been taken into account.
Momo
Currently in takeover talks with Lufthansa. LH offer allegedly conditional on injection of 500 million more from the current shareholders. LH offer allegedly motivated by LH board members who have personal interest in Swiss paying for their Airbus fleet.
Current serious cash problems do not take two things into account. First, the restructuring costs for the layoffs that have already taken place are allegedly not yet in the accounts, and second, there is a 100 million judgement in favour of Air Liberté or one of the other French companies which has allegedly not yet been taken into account.
Momo
Join Date: May 1999
Location: Genolier, Switzerland
Posts: 198
Likes: 0
Received 0 Likes
on
0 Posts
