Loss-making FlyLAL Lithuanian Airlines has been purchased by SCH Swiss Capital Holdings for US$1 million plus an agreement to cover debt of some €1 million (US$1.4 million). "We were looking for an airline to purchase, and this is a good company to invest in. FlyLAL can be a very strong regional carrier," SCH CEO Jan Erik Jansson told the Associated Press. The sale will take effect on 23 January. FlyLAL was privatised in 2005 and was held by several Lithuanian investors. It lost LTL8.1 … [Read more...] about Troubled FlyLAL acquired by Swiss investor