Swiss International Air Lines
Swiss International Air Lines AG (short Swiss, stylized as SWISS) is the flag carrierairline of Switzerland operating scheduled services in Europe and to North America, South America, Africa and Asia. Its main hub is Zurich Airport, with a focus city operation at Geneva Airport. The airline was formed after the 2002 bankruptcy of Swissair, Switzerland's former flag carrier.
Swiss is a member of the Star Alliance. It is a subsidiary of the Lufthansa Group, with headquarters at EuroAirport Basel-Mulhouse-Freiburg near Basel, Switzerland, and an office at Zurich Airport in Kloten, Switzerland. The company's registered office is in Basel. The airline uses the IATA Code LX that it inherited from the Swiss regional airline Crossair (Swissair's code was SR). The ICAO code is SWR, inherited from Swissair (Crossair's was CRX), in order to keep international traffic rights.
Swiss was formed after the 2002 bankruptcy of Swissair, Switzerland's former flag carrier. Crossair had 40% of its income come from the defunct Swissair. The new airline's losses totaled $1.6 billion from startup until 2005. Swissair's biggest creditors, Credit Suisse and UBS, sold part of Swissair's assets to Crossair, the regional counterpart to the transatlantic Swissair. At the time, both Swissair and Crossair were under the same holding company, called SAirGroup. Crossair later changed its name to Swiss, and the new national airline started its operations officially on 31 March 2002. The airline was first owned by institutional investors (61.3%), the Swiss Confederation (20.3%), cantons and communities (12.2%) and others (6.2%). Swiss also owns subsidiary companies Swiss Sun (100%) and Crossair Europe (99.9%). It has a total of 7,383 employees.