Crossair ends year 2000 on a deficit
The Swiss airline, Crossair, announced on Friday a SFr25.2 million ($14.79 million) loss for the year 2000, despite an increase in passenger traffic. The deficit is due to a massive rise in fuel prices and a strong dollar.
For the first time in eight years, SAirGroup’s subsidiary will not be able to pay its shareholders any dividend. The rise in fuel costs and the exchange rate with the dollar increased the company’s expenses by SFr100 million.
However, Crossair’s turnover increased by 9.5 per cent, to SFr1,275 billion, and its passenger traffic went up by 4.9 per cent to 6.29 million. The occupation rate also underwent a 2.7 per cent rise.
The company, which employs over 3,600 people, made a SFr52.85 million benefit in 1999.
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