Swissair Group signed an agreement yesterday with EDS, under which the worldå‘s largest provider of IT services to the airline industry will assume substantially all the operations of the Swissair Groupå‘s IT subsidiary, Atraxis.
The closing of the agreement is subject to a brief due diligence and receipt of necessary regulatory and third party approvals.
The Swissair Group Board of Directors formally approved the transaction yesterday morning and the agreement was signed by all parties shortly after noon. Once the agreement is finalized, EDS will continue to provide airline reservations, airport management and air transport information services that are currently provided by Atraxis to a global client base of airlines and airports. There will now follow an intensive period of due diligence, after which the transaction should be officially closed, subject to receipt of all necessary regulatory and third party approvals. The agreement will secure future services to Atraxis’ broad client list of airlines and airports, while giving EDS a strong European base from which to provide its airline reservations, airport management and air transport information services. The terms of the agreement will not be disclosed.