Company Watch - Swiss International Air Lines.Aug 27, 2007 Swiss International Air Lines Swiss International Air Lines (short: Swiss) is the principal airline of Switzerland operating scheduled services in Europe and to North America, South America, Africa and Asia. Its main hub is Zurich Kloten Airport (ZRH). announced that it will increase its stake in Swiss Aviation Training to 100%, buying out the 50% held by GCAT GCAT Government Content Acceptance Testing (Navy ILE content) Flight Academy UK. Former Swiss COO (Cell Of Origin) See mobile positioning. Manfred Brennwald will be CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of SAT. No financial details were provided. Aug 24, 2007 Swiss International Air Lines is to acquire its Swiss AviationTraining operation in full. Manfred Brennwald has been named as the unit's new CEO. Swiss AviationTraining (SAT), SWISS's flight and aviation training operation, has been run as a 50/50 joint venture with GCAT Flight Academy UK Limited (GCAT), formerly GE Commercial Aviation Training Limited, since SWISS was established in 2002. SWISS is to acquire GCAT's 50% holding in SAT, making the operation a wholly-owned SWISS subsidiary. The acquisition was triggered by the change of control which occurred when GCAT was acquired by STAR Capital Partners Limited in February 2007. The parties agreed not to divulge the further terms of the transaction. Aug 23, 2007 Swissair and SAirGroup liquidators will start making payments to creditors in November, Wenger Plattner, the Swiss law firm handling the liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy , announced last week. An initial payment of CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 519.4 million ($429.7 million) will include a first installment for nonpreferential creditors. So far, SAirGroup's creditors have filed claims totaling CHF48.9 billion, of which CHF9.8 billion have been accepted for payment, Wenger Plattner said. It added that CHF29.3 billion worth of claims have been rejected while appeals or decisions are pending on the rest. Aug 21, 2007 Editorial eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new service that keeps travelers informed on flight and airport status via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Pyramid Media Group / Air Travel Media. All rights reserved. |
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