SAir agrees to buy a 49.9% stake in LTU Group
Article Abstract:
SAir Group AG, the parent firm of Swissair, agreed to purchase a 49.9% equity stake in Germany's LTU Group as part of its planned growth strategy. The German charter-airline market is dominated by LTU, which along with Lufthansa subsidiary Condor have a fleet of 29 aircrafts ferrying 7.2 million passengers each year. Tour operators Tjaereborg, Meier's Weltreisen, Jahnreisen, Smile & Fly, THR and Marlboro Reisen along with LTT-Touristik also comprise the LTU Group. For the year ended Oct. 31, 1997, LTU reported a total revenue of 3.9 billion marks ($2.32 billion).
Comment:
Agrees to purchase a 49.9% equity stake in Germany's LTU Group as part of its planned growth strategy
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Nestle says Gut of Credit Suise will become chairman in 2000
Article Abstract:
Nestle SA revealed that Credit Suisse Group's incumbent chairman, Rainer E. Gut, will become its chairman in year 2000. Gut, after a long service at Credit Suisse, will be retiring from the said company in 2000. Nestle said that Gut, a veteran Nestle board member, will take the place of incumbent Nestle chairman Helmut Maucher, who will also be retiring in year 2000. Nestle reportedly made the appointment following CEO Peter Brabeck-Letmathe's decision to focus on his task as chief executive in the next number of years.
Comment:
Incumbent chairman, Rainer E Gut, will become Nestle's chairman in year 2000
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: SAir gains with help of Swissair. Swissair entertainment system turned off as part of crash probe. Crashed Swissair jet passed checkup recently
- Abstracts: Hoechst heats up arthritis-drug duel. Merck plans to buy Sibia for 81.4 million euros. U.S. FDA panel backs two drugs for breast cancer
- Abstracts: Punch to launch a hostile bid for pub chain. Hellenic agrees to bottling deal with Coke unit. British court allows B.A. T., Zurich merger
- Abstracts: Canal Plus unit wins TV rights to Italy soccer. News Corp. establishes Italian unit. Illycaffe uses art and the Web to promote blend
- Abstracts: HSBC fans keep the faith. MTRC bond helps economy; response shows resilient confidence in the city