Lufthansa to buy Swiss?
#1
Original Poster
Join Date: Dec 2001
Posts: 3,181
Lufthansa to buy Swiss?
Apparently Swiss offered itself to BA which turned down the offer. They then approached Lufthansa which has reservations because Zurich would compete with their Munich hub.
Due to noise restrictions resulting from pressure from Germany, Swiss may have to route some long distance flights from Basel.
Better use my AA miles on LX ASAP.
Due to noise restrictions resulting from pressure from Germany, Swiss may have to route some long distance flights from Basel.
Better use my AA miles on LX ASAP.
#2
Join Date: May 2002
Location: MYNN
Posts: 253
I don't see much credibility for this story. Unless Lufthansa is completely out of its mind. In my opinion LH can only be interested in LXs passengers, but not in the entire airline. And they are definitely not interested in taking over ZRH as a hub. This would be a very bad strategy... but then the story comes from the SonntagsZeitung, one of the best newspapers in Switzerland, ahem
#3
Original Member
Join Date: May 1998
Location: CH-3823 Wengen Switzerland
Programs: miles&more, MileagePlus
Posts: 27,041
here is the newsstory (in german) from todays Zurich based Sonntagszeitung that brought this up
http://www.tagi.ch/dyn/news/wirtschaft/271830.html
http://www.tagi.ch/dyn/news/wirtschaft/271830.html
#4
Join Date: Jan 2003
Location: Manchester, United Kingdom
Programs: Hilton Gold, Priority Club Blue, SPG Gold, Sofitel Gold, FB Ivory, BA Blue
Posts: 8,481
Having a couple of flights booked with them (for personal travel), I would just like Swiss to stay in business over the next three months.
As nice as a takeover might sound (especially if it puts my miles in a nice safe, established alliance), is there a single airline on the planet that can actually afford to take over any other airline at the moment?
As nice as a takeover might sound (especially if it puts my miles in a nice safe, established alliance), is there a single airline on the planet that can actually afford to take over any other airline at the moment?
#6
Join Date: Jan 2003
Location: Manchester, United Kingdom
Programs: Hilton Gold, Priority Club Blue, SPG Gold, Sofitel Gold, FB Ivory, BA Blue
Posts: 8,481
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Rudi:
the question is, can swiss afford to stay in business (alone) ...</font>
the question is, can swiss afford to stay in business (alone) ...</font>
I fly to NRT via ZRH a few weeks from now. I'll be most interested to see just how full the flight is.
Regards
I
#8
Join Date: May 2002
Location: MYNN
Posts: 253
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by teahan:
You'd be quite surprised....</font>
You'd be quite surprised....</font>
tells us more... I just think that it does not make real economic sense. Although I don't want to see swiss go bankrupt, I would say that LH would profit from it much more than to take the company over and lose millions in the process.
But hey, everybody likes to buy stuff and buying is always easier than selling.
atlantic
[This message has been edited by atlantic (edited 04-13-2003).]
#9
Join Date: Mar 2003
Location: Lausanne, Switzerland
Programs: Miles & More FTL, Flying Blue Silver, SPG, HHonors, LHW LeadersClub
Posts: 245
Swiss dément être à vendre
AVIATION. Les rumeurs se multiplient.
Le Temps
Lundi 14 avril 2003
Swiss chercherait à se vendre à Lufthansa, affirme la SonntagsZeitung, qui assure que d'autres discussions ont eu lieu entre le président du conseil d'administration de Swiss et le patron de British Airways Rod Eddington au début du mois de mars.
Jean-Claude Donzel, porte-parole de la compagnie, a démenti ces rumeurs dimanche: «Il n'y a pas eu et il n'y a pas de discussions avec Lufthansa et avec British Airways.» Selon une autre information, publiée cette fois par le SonntagsBlick, le Conseil fédéral devrait discuter la situation de Swiss le 30 avril, à la demande du Département de l'économie. Les porte-parole de plusieurs partis politiques se sont inquiétés ces derniers jours des mesures de restructuration prises par la compagnie, jugées timides et tardives.
Swiss a transporté 2,76 millions de passagers au premier trimestre 2003. De nouvelles mesures d'économies pourraient être annoncées avant l'assemblée générale des actionnaires, fixée au 6 mai.
--------------
To say it short, SWISS said they didn't speak with LH or BA about any selling project...
AVIATION. Les rumeurs se multiplient.
Le Temps
Lundi 14 avril 2003
Swiss chercherait à se vendre à Lufthansa, affirme la SonntagsZeitung, qui assure que d'autres discussions ont eu lieu entre le président du conseil d'administration de Swiss et le patron de British Airways Rod Eddington au début du mois de mars.
Jean-Claude Donzel, porte-parole de la compagnie, a démenti ces rumeurs dimanche: «Il n'y a pas eu et il n'y a pas de discussions avec Lufthansa et avec British Airways.» Selon une autre information, publiée cette fois par le SonntagsBlick, le Conseil fédéral devrait discuter la situation de Swiss le 30 avril, à la demande du Département de l'économie. Les porte-parole de plusieurs partis politiques se sont inquiétés ces derniers jours des mesures de restructuration prises par la compagnie, jugées timides et tardives.
Swiss a transporté 2,76 millions de passagers au premier trimestre 2003. De nouvelles mesures d'économies pourraient être annoncées avant l'assemblée générale des actionnaires, fixée au 6 mai.
--------------
To say it short, SWISS said they didn't speak with LH or BA about any selling project...
#11
Join Date: Mar 2001
Posts: 522
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">tells us more... I just think that it does not make real economic sense. Although I don't want to see swiss go bankrupt, I would say that LH would profit from it much more than to take the company over and lose millions in the process.
But hey, everybody likes to buy stuff and buying is always easier than selling.</font>
But hey, everybody likes to buy stuff and buying is always easier than selling.</font>
As much as I hate saying this, maybe it is the best solution? It doesn't look like things are getting better, the high cost base is there and Bouw himself said he does not expect yields to recover. The government probably won't put in another billion or two.
I personally would be for a radical Aer Lingus style U-Turn (EI was in a worse shape than LX about 1.5 years ago, they are now making a profit) but pride means that isn't going to happen.
Jeremiah
[This message has been edited by teahan (edited 04-13-2003).]
#12
Join Date: Mar 2001
Posts: 522
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">After the fail of project Alcazar (Swissair, KLM, SAS & AUA) Lufthansa was interested in a tight cooperation with Swissair. Maybe Lufthansa has still the that kind of intentions with the smaller Swiss(air). </font>
Jeremiah
#14
Join Date: Apr 2001
Location: Abu Dhabi UAE
Programs: EY Plat, IHG Plat Amb
Posts: 895
LH would definitely be willing to spend money on LX. Just taking their market, killing long-haul and hubbbing some pax through basel and zurich for argument sake would be a very good move for LH. It would raise yield of tickets in that region and stengthen both FRA and MUN.
LH would have no serious competition to its south anymore.
Since similar stories are going around about SK, competition will be reduced to BA, AF and KL (also not doing too well).
Question is; How long is it going to take?
LH would have no serious competition to its south anymore.
Since similar stories are going around about SK, competition will be reduced to BA, AF and KL (also not doing too well).
Question is; How long is it going to take?