Swiss – key dates and decisions

The latest cuts mark the third time Swiss has been forced to scale down its activities.

Here are some of the key moments since the carrier took to the skies in April 2002:

March 31, 2002

Swiss takes to the air following the amalgamation of Crossair and the remains of Swissair, which collapsed in 2001.

The carrier begins operations with 26 former Swissair jets and 76 Crossair craft. The company employs 12,000 people, of which 10,500 are full time.

November 19, 2002

Swiss cuts its fleet by eight aircraft and reduces its workforce by 300 jobs.

February 25, 2003

Swiss announces a massive collapse in passenger numbers on its European network, triggering 700 additional job cuts and a reduction in the fleet to 112 aircraft.

March 25, 2003

After reporting a loss of almost SFr1 billion in 2002, Swiss predicts further losses in 2003.

The airline’s shareholders approve a capital reduction. Management also reduces its order for 60 new Embraer 170/195 aircraft to 30.

April 9, 2003

Swiss cancels flights to Asia and elsewhere, amid falling demand caused by the war in Iraq and the Sars virus.

April 21, 2003

CEO André Dosé announces new discount fares to tackle competition from low-cost competitors.

May 2, 2003

In an effort to cut costs, Swiss says it will spin-off its regional network to create a new airline, “Swiss Express”.

The sister carrier will employ 900 of the 10,000-strong Swiss workforce, as well as a fleet of 59 aircraft.

June 24, 2003

Swiss announces its new business plan, which includes 3,000 job cuts and a one-third reduction in the fleet.

swissinfo with agencies