Atraxis To Be Sold Today?

5th Nov 2001

The Swissair Group said yesterday that it would announce the sale of its Atraxis ticketing unit on Monday.

The statement came after a Swiss newspaper reported that Electronic Data Systems and Galileo International were negotiating to buy the business. “We are in talks with several companies,” said a Swissair spokeswoman, although she declined to say whether EDS or Galileo, which is owned by the Cendant Corporation, was among the bidders.

Swissair is selling units after it filed for protection from creditors a month ago. According to Bloomberg news, I.B.M., E.D.S.`s main rival, retracted a bid for Atraxis made with Deutsche Lufthansa because the risks were considered too great, Susan Orozco, a spokeswoman for IBM Switzerland, said on Wednesday.



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