After three years of operation, our business and private jet subsidiary SWISS PrivateAviation AG is compelled to radically restructure its strategy and operations.
13 December, 2010
SWISS PrivateAviation specialises in providing business and private jet services within Europe. The company operates four aircraft on behalf of Lufthansa Private Jet and three private jets on behalf of third-party customers. But it has been confronted with a difficult economic environment in the fiercely-contested business and private aviation market it which it is active since it was established three years ago.
With its present aircraft fleet, SWISS PrivateAviation cannot viably offer the Lufthansa Private Jet product Europe-wide to the extent and degree desired. In view of this, Lufthansa has decided to transfer its Lufthansa Private Jet production to another platform. The resulting termination of its collaboration with Lufthansa and the currently difficult business situation compel SWISS PrivateAviation to radically rethink its future business strategy.
To this end, the SWISS PrivateAviation Board of Directors and Management Board have decided to initiate a consultation process. If no viable solutions can be found for continuing its business activities as part of this consultative process, the company will cease its operations.
Needless to say, we deeply regret these developments. The SWISS PrivateAviation management and crew have made extensive efforts over the past three years, in collaboration with their partners at Lufthansa, to put the company onto a viable business foundation. This makes it all the more difficult to take the present steps; and we offer the entire SWISS PrivateAviation team our deepest thanks for all their work and commitment.
Needless to say, if SWISS PrivateAviation’s business were to be discontinued, we would meet all our responsibilities as a trusted and reliable employer and social partner towards everyone involved. As many of the company’s 61 personnel as possible could be found further employment within the SWISS Group or the Lufthansa Group; and for the others, socially-acceptable solutions would be found, including optimum care and assistance under a severance benefits plan.
