Business News of Wednesday, 27 March 2002

Source: Joy Online

Former Employees Of Bankrupt Swissair To Be recalled

The dismissed employees of the Ghana Office of Swiss airline, SWISSAIR, are to be re-instated when a new airline takes over the bankrupt carrier. Swissair will be replaced by a new carrier from the 31st of this month. The new airline, to be known as SWISS, will be under a new management, which promises to make an even better impression than its predecessor.

Swissair grounded its fleet last October after the terror attacks in the US exposed its deficient management practices and insecure financial position.The government of Switzerland was then compelled to declare the airline bankrupt.

SWISS was unveiled in Zurich on Monday raising hopes among the people of Switzerland that their nation’s record as a major player in the global air travel industry will be restored. Shareholders in Swiss include the Swiss government, UBS and Credite Suisse.

JOY FM’s Sonny Decker who is in Zurich to report on the birth of SWISS says the African continent features prominently in the plans of the new airline. An executive vice President of Swiss, Arian Penn also told JOY FM that the airline is purchasing a new set of aircraft to boost its operations.