SWISS INTERNATIONAL AIRLINES is to create a new subsidiary which will operate under the ”SWISS Express” brand from the start of the 2003/4 winter timetable period.
SWISS Express says it will offer a competitively-priced product that is carefully tailored to the regional air travel market by reducing the costs of these regional operations by some 20% from their current levels.
Remarkably Swiss has put out a statement which says ”SWISS also has sufficient liquidity, despite the sizable losses sustained in early 2003, and there is no question of the airline being grounded”.
The SWISS Express fleet is expected to consist of Saab 2000, Avro RJ 85/100, Embraer 145 and (later) the new Embraer 170 and 195 aircraft.
Rather sounds like a successful (and solvent) airline called Crossair, purchased by the late Swissair, and the vehicle from which SWISS evolved. http://www.swiss.com