Tag: Switzerland

UPU Opens to Private Sector

Private sector postal stakeholders will in the future
be able to participate in meetings of the Universal Postal Union’s (UPU)
main bodies. This was made possible after the UPU’s Council of
Administration, during its annual session in Berne, Switzerland, adopted the
recommendations of a High Level Group on the future development and role of
the organisation. This Group recommended the creation of a new UPU body to
be known as the Consultative Committee. This means that the UPU’s structure
will now include three interest groups, namely governments or postal
regulators, postal operators, and external stakeholders.

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Brussels protests over proposed aid to Swissair

Brussels protested on Tuesday about the proposed recapitalisation of Swissair but admitted it was unable to stop the operation from going through.

The move came as the regional airline Crossair started the process of transforming itself into the new flag carrier after the collapse of Swissair. Late on Monday, Swiss public authorities and companies unveiled a SFr4.24bn ($2.55bn) salvage plan, using Crossair to restore a national airline with a Zurich airport hub as well as save tens of thousands of jobs.

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Swiss investors unite to rescue airline

The Swiss government, several Swiss billionaires and 15 of the country’s biggest companies on Monday threw their weight behind a plan to try to rebuild a Swiss national airline out of the remnants of Swissair. The success of the SFr4bn (E2.7bn) rescue plan, known as Phoenix Plus, hung in the balance until the last moment, with the government unwilling to back the biggest corporate bailout in the country’s history without a matching contribution from the private sector.

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