Sabena, first Net Profit in 40 years!

Year1999:

Sabena attributes its first net profit in 40 years to sustained growth in Europe.

The airline, owned by Swissair, made a net profit of BFr703 million ($20 million) last year, its first since 1958.

Long-haul business increased by 47% last year, and accounts for 17% of passengers. The carrier added three new long-haul destinations in April last year, from Brussels to New York Newark, Montreal and Sao Paulo, through a complicated leasing arrangement with City Bird.

Year2001:

Sabena went into liquidation on November 6, 2001.

A parliamentary commission in Belgium was established to investigate the demise of the airline. The commission came to the conclusion that Swissair took the major part of the blame for the bankruptcy of Sabena.