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Time to move on
01 July 2007
The demise of Swissair is a saga that refuses to go away
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Ian Hosier
Banca Intesa
Swissair
Ian Hosier was working at his desk at what was then Banca Intesa's New York office in October 2001. Rumours were flying around about the imminent demise of Swissair, the national carrier of one of the most prosperous countries in Europe. Hosier's colleagues were desperately trying to get hold of people in the airline to see what was going on.
Then finally the news petered through.
"We could scarcely believe it had been allowed to happen," says Hosier now. "In fact, it is still difficult to believe after all this time."
The whole of the aviation industry was just as dumb-struck as Hosier by Swissair's collapse. Many executives found it remarkable that a country with the stature of Switzerland would allow its flag carrier to go under.
Its demise was more obviously felt by the Swiss, who had believed the airline had been integral to the country's economic expansion over...
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