Crossair Completes an Interim Step in Capital Increase

On April 8, 2002, Crossair AG increased its share capital by CHF 272,412,650 to CHF 2,619,000,950. By this step, the number of nominative shares with a nominal value of CHF 50 rose by 5,448,253 from 46,931,766 to 52,380,019 titles. The quotation of the 5,448,253 nominative shares will take place at the SWX Swiss Exchange on Tuesday, April 16, 2002.

This capital increase reflects the participation of the Cantons of Appenzell, Ausserrhoden, Glarus, Obwalden, Schwyz, Wallis and Zurich in the new inter-continental airline with the brand name SWISS. The total cash flow coming to Crossair through this interim step amounts to CHF 305,102,168, of which CHF 272,412,650 is allotted to the nominal value and CHF 32,689,518 to the Agio. The Crossair AG company capital is thus strengthened by a further CHF 305,102,168, providing Crossair AG with a solid financial basis.
Thomas Hofmann, Crossair’s Chief Financial Officer, explains ” We thank the investors for the trust they are showing in us in assisting to build up a new inter-continental airline with the brand name SWISS. We are aware of the great responsibility this carries and we will handle the funds provided by the public sector and the private industry in the thriftiest manner. Our entire effort is devoted to the success of SWISS “.

The Canton of Zurich, Finance Directorate, Gallusstrasse 4, 8090 Zurich, with its participation in Crossair AG of 5,357,142 nominative shares and a voting share of 10.2% exceeds the thresholds of 5% and 10% respectively, which means that this is subject to compulsory registration, according to Art. 20ff of the Stock Exchange law.  The outcome is that the Swiss Federal Government, the UBS Finanzholding AG and the Canton of Zurich are shareholders with a voting share in Crossair AG, which is subject to compulsory registration.