SWISS has decided not to proceed with the envisaged integration of its Swiss TravelClub frequent flyer programme into the Executive Club, its counterpart at British Airways, under the present conditions. The sizeable costs of such an integration and the drawbacks it would bring currently outweigh its projected mid- to long-term benefits. As the abandonment of the proposed integration also means that the bilateral agreement between SWISS and British Airways cannot be put into practice, SWISS is unable to join the oneworld alliance at the present time. SWISS and British Airways have reached an amicable agreement on how they now intend to proceed. SWISS's bilateral commercial agreements with other oneworld members remain unaffected by these developments.

The remaining aspects of SWISS's collaboration with British Airways will be terminated at the end of the 2004 summer schedules, with the exception of the codeshare arrangement on British Airways-operated services between Geneva and London (Heathrow), which will remain in force for a further three years.

The members of the Swiss TravelClub will continue to benefit from the bilateral agreements with many other airlines, including the oneworld-members among them American Airlines, Iberia and Finnair. Swiss TravelClub members can accrual and redeem miles on all codeshare-flights with these airlines.