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Europe Daily Bulletin No. 8061

3 October 2001
Contents Publication in full By article 32 / 53
ECONOMIC INTERPENETRATION / (eu) aviation

Mario Corti, President of SWISSAIR, which has suspended payment of its debts, has announced that the company would be restructured and that on 1 November 2001 CROSSAIR will become the national flag carrier. Two thirds of SWISSAIR's aviation activities will be taken over by regional airline CROSSAIR (its subsidiary to date). The Swiss banks UBS and CREDIT SUISSE will buy SWISSAIR's 70.35% stake in CROSSAIR for around 260 million Swiss francs and are planning other emergency measures to save...

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A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS
ECONOMIC INTERPENETRATION