NICOLA BRADLEY / LONDON
Swiss International Air Lines managed to narrow its losses during the first half of the year according to figures revealed last week.
The struggling Swiss flag carrier posted a net deficit for the period of SFr333 million ($243 million), compared with SFr447 during the same period last year, on revenues of SFr2.1 billion.
Swiss blames factors including the recent SARS outbreak and the war in Iraq for preventing it from reducing losses further, as yields continue to come under pressure due to competition from no frills airlines and the lingering global economic recession.
However, the airline believes its cost-cutting efforts are having a positive impact. Downsizing and restructuring programmes have been instigated to turn around its financial performance.
Source: Flight International
