SAIRGROUP BUYS STAKE IN SOUTH AFRICAN AIR
SAirGroup, the parent company to airline Swissair, has signed an
agreement to buy a 20-percent stake in South African Airways.
The deal, valued at $230 million, will lead to closer ties between
Swissair, SAA and other members of the Qualiflyer alliance of airlines,
including Austrian Airlines, Lauda Air and TAP Air Portugal.
SAir said it will seek greater cargo cooperation with SAA.
SAir bought the equity stake from a state-owned holding company in South
Africa, winning the deal over a group of other bidders including Lufthansa
German Airlines.