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D�sseldorf,
12th November 2001
Dear
Customer: Over
recent weeks, many of you have had questions regarding the status of LTU.
It is with great pleasure and satisfaction that we announce to you
today, that LTU International Airways has been given a good chance for
survival after the recent weeks of uncertainty. Based
on the positive evaluation of the LTU Business Plan 2002-2004 by the
auditors, PwC Deutsche Revision, together with the substantial concessions
from the LTU workforce, the savings bank, Stadtsparkasse D�sseldorf, will
hold the 49,9% SWISSAIR shares as trustees until an investor has been found.
REWE will inject additional capital and the Federal Government of North
Rhine Westphalia will provide the appropriate securities. LTU
International Airways now has the financial platform to stabilise its
product in the markets. LTU will resume to implement its previously
successful business plan with vigour. We
wish to thank the Federal Government of North Rhine Westphalia, and in
particular the Head of State, Mr. Wolfgang Clement,
the savings bank, Stadtsparkasse D�sseldorf, REWE and all other parties
that were involved in developing the rescue package. We thank you for your patience, and continuing support for LTU during this difficult period. Respectfully,
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North American Contact Mr. Raymond G. Foss 407-261-8507 |
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New
Reservations Number 866-266-5588 (866-BOOKLTU) |