[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Thursday, 7 June 2007, 08:30 GMT 09:30 UK
All Swissair defendants cleared
Swissair plane
Swissair collapsed in October 2001
All 19 defendants accused of crimes linked to the collapse of national carrier Swissair have been cleared.

Switzerland's biggest corporate trial looked into the events leading up to Swissair's bankruptcy in October 2001.

The defendants included its last chief executive Mario Corti, who was the only one facing a prison sentence.

The collapse of Swissair shook the country's confidence in its business leadership and damaged its reputation for business efficiency.

There has been such interest in the trial that Swiss television is devoting four hours of live coverage to the delivery of the verdict.

The charges included damaging creditors, mismanagement, making false business statements and forging documents.

Swissair was the first major airline to go bankrupt following the terror attacks of 11 September 2001.

It had been left vulnerable after a $3bn (1.5bn) cash balance was turned into a $14bn debt, mainly by a strategy of buying smaller European airlines.

Swissair's assets were merged with the regional airline Crossair to form Swiss International in 2002, which was bought by Lufthansa in 2005.


SEE ALSO
Verdict awaited in Swissair trial
07 Jun 07 |  Business
Swissair trial draws to a close
09 Mar 07 |  Business
Trial examines Swissair collapse
16 Jan 07 |  Business
Airline that crashed and burned
02 Mar 06 |  Entertainment
State saves Swissair
22 Oct 01 |  Business
Airline collapse dents Swiss pride
02 Oct 01 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific