2007-06-24 - Lufthansa und SwissLufthansa takes full ownership of SWISS
Übernahme der Schweizer Airline abgeschossen<br /> After securing the necessary traffic rights, Deutsche Lufthansa AG will acquire all the remaining shares in Swiss International Air Lines AG.
Effective 1st July 2007 Lufthansa will then own all the equity in Swiss International Air Lines AG through the Swiss-domiciled AirTrust company.
The integration of SWISS into the Lufthansa Group has been realised quicker and more successfully than expected. Synergies generated by the merger, totalling more than 200 million euros (around 300 million Swiss francs) during 2006, are far higher than initially planned. Lufthansa Chairman and CEO Wolfgang Mayrhuber said: "The result underlines the added value of our partnership, it underpins the sustainability of team oriented strategy and is the reward for excellent work by the SWISS management and its dedicated staff."
Mayrhuber emphasised: "The SWISS business model is a success. The airline is still heading for growth and progressing extremely well. Also in future, SWISS with its own brand identity will further develop its strengths and expand its locational advantage in the Swiss market. SWISS will stay SWISS also in partnership with Lufthansa".
This successful business model also ensures that, within the framework of the Lufthansa Group´s strategy, SWISS will remain an autonomous carrier with an own business management and headquarters based in Switzerland as well as with its own crew and fleet. The development of the Zurich hub will continue alongside the hubs in Frankfurt and Munich as integral part of Lufthansa's multi-hub strategy. In addition, the SWISS fleet will further expand thanks to the high capacity utilisation in its long-haul traffic and ongoing market growth.