expand the airport's cargo facilities. However, a corresponding loan of CHF 57 million was narrowly rejected in the referendum of 6 September 1987 by 106,722 to 98,663 votes (52.0% against). The project, which was subsequently revised and approved by Zürich's Cantonal Council in 1989, focused on more efficient use of the existing facilities, thereby enabling the handling of an additional 100,000 tonnes of freight annually. Fifth stage of construction ("Airport 2000") The cantonal popular initiative "for moderate air traffic" submitted in January 1991 intended to limit the airport to its then status, i.e. neither to allow more aircraft movements nor to expand the infrastructure. In the vote of 26 September 1993, however, it did not stand a chance and was clearly rejected by 235,531 votes to 112,476 (67.6%). Nine months later, Zürich's cantonal government submitted a proposal for a loan of CHF 873 million to the cantonal council. The fifth construction phase, known as "Airport 2000" and costing a total of CHF 2.4 billion, was intended to replace outdated systems and further expand existing facilities. At the heart of the project was the construction of a third terminal, Dock E "Midfield", located between the three runways. The Skymetro aerial tramway, a road tunnel and underground baggage conveyors were necessary for its development. Also part of the fifth stage was the construction of the new passenger hub "Airside Center". The Cantonal Council approved the project at the end of February 1995. It cleared the last hurdle in the referendum of 25 June 1995, when it was approved by 224,668 votes to 105,859 (68.0% Yes). After almost nine years of construction, the project was completed in 2004. "Zürich 2010" project The next major event for the airport was in 1999, when the Parliament of the canton of Zürich approved privatization of Zurich Airport. The following year, Flughafen Zürich AG, trading under the brand Unique, became the new airport operator. The company dropped the brand Unique in favour of Zurich Airport and Flughafen Zürich in 2010. On 2 October 2001, a major cash-flow crisis at Swissair, exacerbated by the global downturn in air travel caused by the September 11 attacks, caused the airline to ground all its flights. Although a government rescue plan permitted some flights to restart a few days later, and the airline's assets were subsequently sold to become Swiss International Air Lines, the airport lost a large volume of traffic.