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Home  /   Forum   /   Air France - KLM   /   Luchtvaart allianties zijn onvermijdelijk

Aandeel Air France-KLM PSE:AF.FR, FR001400J770

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Luchtvaart allianties zijn onvermijdelijk

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3 Posts
| Omlaag ↓
  1. [verwijderd] 23 september 2003 12:30
    Swiss joins BA's Oneworld allianceBy Kevin Done and Lina SaigolPublished: September 22 2003 23:57 | Last Updated: September 23 2003 10:22

    British Airways on Tuesday confirmed it signed a pact with Swiss International Airlines that will also see the ailing carrier join BA's Oneworld airline alliance as the ninth member.
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    At a board meeting on Monday, Swiss rejected a rival deal offered by Germany's Lufthansa to enter the Star alliance in favour of making an agreement with BA and Oneworld, which is more likely to allow it to remain an independent carrier, at least for the medium term.

    Under the terms of agreement with Swiss, BA will acquire eight of Swiss' daily take off and landing slot pairs at the highly congested London Heathrow airport, which will provide an immediate injection of cash for the Swiss group.
    For an analysis of Swiss' decision to join BA's Oneworld alliance,
    Click here

    As part of its entry into Oneworld, Swiss will also enter into code-sharing arrangements with BA for routes from London Heathrow to Geneva, Basle and Zurich. BA and Swiss will further co-operate on frequent flyer programmes and share facilities such as business lounges at some airports.

    Rod Eddington, BA chief executive, told a news conference on Tuesday that the British carrier would consider taking an equity stake in Swiss International Air Lines at some point in the future.

    Throughout the negotiations BA had said that it was not interested in taking any equity stake in Swiss and that it wanted no financial or management exposure to the Swiss group. This was in contrast to the rival offer by Lufthansa which involved the German carrier taking a stake in Swiss and exercising direct influence on the operations of the Swiss group.

    Andre Dose, Swiss chief executive, said on Tuesday that the loss-making national carrier aimed to turn itself around in 2004 and make a profit in 2005.

    The deal marks another step in the consolidation of the European airline industry and comes as negotiations between KLM and Air France on a potentially much more ambitous combination have also reached an advanced stage.

    The Dutch and French airlines said last week that "critical points" were still to be resolved. They said they were in detailed discussions on "an intensive co-operation" as well as on KLM's entry into the SkyTeam alliance, which is led by Air France and Delta Air Lines of the US.

    Both sets of negotiations have been triggered by the strong pressures for consolidation in the European airline industry with many airlines still deep in loss and the traditional carriers losing market share heavily to the rapidly growing low cost airlines.

    Swiss has been in loss since its formation and recently announced a net loss of SFr333m for the first half of the year. KLM, one of the most highly indebted carriers in Europe, is in its third successive year of losses.

    Swiss was formed out of the 2001 collapse of the former Swissair through a SFr2.7bn rescue by the Swiss federal government, several cantons, and leading Swiss industrial groups, banks and private investors.

    It started flying at the end of March last year but has struggled from the outset with too much capacity and a network that was too big for its available market.

    The Swiss airline is trying to drive through a third restructuring package in less than 12 months aimed at cutting annual costs by SFr1.6bn and has admitted that it needs additional financing of SFr500m to help fund the rescue.

    The cash injection from selling slots to BA was therefore a key element in securing the deal.

    Swiss already has bilateral links with six other Oneworld carriers including American Airlines, Cathay Pacific and Qantas.
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