Lufthansa to completely take over its 'Swiss' unit as of July 1 |
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Thu, 21 Jun 2007 08:59
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FRANKFURT (Thomson Financial) - Deutsche Lufthansa AG said it is fully taking over its unit Swiss and will own the airline completely as of July 1, after having secured all necessary traffic rights.The integration of Swiss, which was acquired by Lufthansa in 2005, has been realised more rapidly and successfully than expected, said Lufthansa chief executive Wolfgang Mayrhuber in a statement, adding that the unit is heading for growth and progressing 'extremely well'.Lufthansa said Swiss will maintain its brand identity and remain an autonomous carrier with a separate management, crew and fleet.Lufthansa added that, as part of its multi-hub strategy, the development of the Zurich hub is to continue alongside the hubs in Frankfurt and Munich.judith.csaba@thomson.comjcs/lceCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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