Swissair Company
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INTRODUCTION
Swissair was the official airline of Switzerland for 71 years before its demise in 2002. Swissair was established since 1931, headquartered in Zurich and was nicknamed as “The Flying Bank” (Isobel Washington, ehow.com). Swiss airline is responsible for aircraft acquisition and maintenance of key members of the International Aviation Group. According to (Isobel Washington, ehow.com) the airline reputation and history hold enormous value in Switzerland, as Swissair was recognized worldwide for its award-winning catering status and its magnificent growth.
(Shelby White 2010) acknowledge that, during March 1931, the Balair and Ad Astra Aero were two companies that merged to form Swissair. Basically the company has changed their logos many times, but finally the found there is one that is the most memorable one and it is also used by the Swiss airline as one of their best signs.
Basically, Swissair was owned by the Swiss federal government and state government with the share of 24%, 76% private ownership. By 1980s, the Swiss airlines route its network throughout Europe, North and South America, Africa, Middle East, South Asia, Southeast Asia and the Far East. Swissair has been acknowledged as one of the airlines with high standard of service, punctuality and quality and worldwide reputation, in the eyes of European and American. Swiss Air also known as a noble air, which is not only Switzerland, has always been aristocratic air service of praise.
In addition, (Dan Gaunt, e.how.com) emphasize that, in the late of 1980s, to attempt the market share, Swissair started to buy small competing airlines such as Crossair, Covia, Sabena and Austrian Air represents. This has also been acknowledged (Michael J. Beyman, e.how.com) that during 1990s, Swissair began to use its hunter strategy. The hunter strategy would acquire near near-majority shares in smaller airlines to gain market share. This strategy, lead Swissair to gain stakes in Sabena, Air Liberte, AOM, Air Littoral, Volare, LOT, Air Europe, Tap Portugal, Turkish Airlines, South African Airways, Portugalia and LTU. Unfortunately, the hunter strategy produced a huge cash-flow problem in Swissair. It was understood that, many of the airlines that Swissair acquired did not provide significant return on the investment, plus the synergies were not recognized. While, in 1990, Swissair formed the European Quality Alliance to increase its competiveness in the European Economic Area. Later, this program later was changed to Qualifier group in 1998(Dan Gaunt, e.how.com).
During March 2002, New York was basically the last flying of the Swiss flight which landed at the Geneva International Airport. More than 71 years of history of the Swiss airline had came to an end. The Swiss believes that the bankruptcy was the Swiss “national tragedy”. (Michael J. Beyman, e.how.com)