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Showing posts with label Swissair. Show all posts
Showing posts with label Swissair. Show all posts
Tuesday, June 28, 2011
Tuesday, May 24, 2011
Saturday, April 30, 2011
The Airline: Swissair
Swissair AG (Swiss Air Transport Company Limited, Schweizerische Luftverkehr) was the former national airline of Switzerland.
It was formed from a merger between Balair and Ad Astra Aero (To the Stars), in 1931. For most of its 71 years, Swissair was one of the major international airlines and known as the "Flying Bank" due to the financial stability of the airline, causing it to be regarded as a Swiss national symbol and icon. It was headquartered at Zurich Airport in Kloten.
In 1997 the Swissair Group was renamed SAirGroup, with four subdivisions: SAirlines (to which Swissair and Crossair belonged), SAirServices, SAirLogistics and SAirRelations.
After the expansive "Hunter strategy" in the late 1990s and after the economic turndown following September 11, Swissair's assets dramatically lost value, grounding the already-troubled airline in October 2001. The airline was kept alive until 31 March 2002 by the Swiss Federal government.
On 1 April 2002 the successor airline Swiss International Air Lines was founded on the base of former Crossair, taking over most of the routes, planes and staff of former Swissair. Today, The SAirGroup company still exists and is in the process of being liquidated. Swiss International Air Lines were taken over by the German airline Lufthansa in 2005
