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Remy Steiner
The descent 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 branch suffered a loss of over 60%. The consequence: a tough savings plan. 1000 jobs are to be cut and the schedule of winter flights will be further reduced.
According to the announcement, operating profit fell 61.8% to 1.54 billion Swiss francs in the first nine months of this year. The next few months look no better: “The loss by the end of the year is expected to increase further,” reads the message.
Savings are on the agenda
The consequence: the schedule of winter flights will be further reduced. Currently, only a maximum of 25% of the previous year’s capacity should be offered.
Plus, you save in terms of staff. Unlike the parent company Lufthansa, no layoffs have been issued so far. But: at least 1000 jobs must be canceled. So far, Switzerland has relied on a hiring freeze, part-time models with wage waivers and early retirement. Further cost-cutting measures are said to be under discussion.
The goal: The airline needs money to repay government-guaranteed bank loans, the message reads.
In the summer it went better
A little ray of hope: In the summer months, SWISS was able to implement up to 40 percent of the originally planned flight program. This also slightly exceeded expectations. SWISS is currently speculating that it will be able to offer a maximum of 25 percent of the previous year’s capacity in the winter flight program.
“To regain confidence in travel, we urgently need stable and uniform framework conditions,” asks the airline.
The Swiss parent company Lufthansa also presented the data. The global corona pandemic has seriously affected the airline. The shutdown of many planes meant that Lufthansa lost even more billions than expected in the summer. (vnf)
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