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Remy steiner
The decline of the Swiss will probably continue until the end of the year. The airline announced this in a press release. As a result, the Lufthansa subsidiary suffered losses of more than 60 percent. The consequence: a tough savings plan. 1,000 jobs will be cut and winter flight hours will be further reduced.
According to the announcement, operating income fell 61.8 percent to 1.54 billion francs in the first nine months of this year. The next few months are not looking better: “The loss by the end of the year is expected to increase even more,” the message says.
Saving is the order of the day
The consequence: the winter flight hours will be further shortened. Currently, only a maximum of 25 percent of the prior year’s capacity should be offered.
In addition, savings are made in terms of personnel. Unlike parent company Lufthansa, no layoffs have been issued so far. But: at least 1000 jobs must be eliminated. Until now, Swiss has relied on a hiring freeze, part-time wage-waiver models, and early retirement. Other cost-cutting measures are being discussed, it is said.
The goal: The airline needs money to pay off government-guaranteed bank loans, it says in the message.
It was better in summer
Little ray of hope: in the summer months, SWISS was able to carry out up to 40 per cent of the originally planned flight program. This even slightly exceeded expectations. SWISS currently assumes that it will be able to offer a maximum of 25 percent of its capacity from the previous year in the winter flight schedule.
“To regain confidence in travel, we urgently need stable and uniform framework conditions,” demands the airline.
Swiss parent Lufthansa also presented the figures. The global corona pandemic has put considerable pressure on the airline. The closure of many planes caused Lufthansa to lose even more billions in the summer than expected. (vnf)
