Swissair unveils major shake up to prop up ailing carrier
The Swissair Group is planning a major shake up in a bid to keep itself aloft, amid falling revenues since September 11's terrorist attacks in the United States. The group said thousands of jobs were likely to go, and that it planned to merge Swissair with its smaller regional carrier, Crossair.
Unveiling its new restructuring plan on Monday, the group said Crossair would be fully integrated into Swissair to form “Swiss Air Lines”, and that the new concern would be headed by current Crossair chief executive, André Dosé.
Swissair Group said the restructuring, which is expected to involve heavy job cuts, would be completed within three years.
Like other airlines, the troubled carrier has seen revenues plunge since September 11’s terrorist attacks in the United States.
Most of the planned job cuts will be at the group’s catering firm, Gate Gourmet, where 3,000 posts, or 10 per cent of the total, are expected to go.
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