Swiss International Air Lines has dropped into the red for the first time in five years.
This content was published on
1 minute
Switzerland’s main airline, which was taken over by Germany’s Lufthansa in 2005, recorded an operative loss of SFr10 million ($9.06 million) in the first quarter of this year.
The strong Swiss currency and rising fuel prices are to blame for the loss, according to a company statement on Wednesday.
Twelve months ago Swiss posted a SFr63 million operative profit.
Swiss chief executive Harry Hohmeister said he was optimistic that business will recover in the second half of the year.
Earlier this week Lufthansa announced an operative loss of €330 million for the first quarter of 2010.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss starts flying again
This content was published on
The only destinations still in doubt are Warsaw and Stockholm. Long-haul flights were leaving normally. However, the company warned that delays were still possible, and passengers should consult the airline website for details. Earlier, spokesman Jean-Claude Donzel had said the situation remained a major challenge since the open and closed status of some of Europe’s…
This content was published on
The Swiss Pilots Association has accepted the firing of 559 former Crossair pilots, while Aeropers said former Swissair staff would work part-time to avoid lay-offs. Martin Gutknecht, a Swiss Pilots Association spokesman, told swissinfo that pilots who lose their jobs will receive between SFr85,000 and SFr140,000 in redundancy pay. “The remaining pilots cannot be fired…
This content was published on
Swissair was the former national airline of Switzerland, created in 1931. For nearly 71 years, it was known as the “Flying Bank” due to the financial stability of the airline. But a failed expansion strategy and the economic turndown led to the grounding of the airline in October 2001. It was kept alive until March…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.