Swiss national airline plans fleet, job reductions
Thu Feb 6,12:16 PM ET

ZURICH, Switzerland - Switzerland's national airline, Swiss, said Thursday said it plans to reduce its fleet and cut routes due to weak demand.



The airline gave no details but spokesman Markus Baumgartner said the measures may be made public in two or three weeks.

Analysts have said the company's fleet needs to be reduced by at least 10 to 20 aircraft for the company to become profitable. Such a cut could result in up to 2,000 job losses.

Swiss, which was created last year out of regional carrier Crossair and the collapsed Swissair, has a fleet of 132 aircraft and about 10,000 employees.

The company issues its 2002 financial results March 27. Analysts expect a net loss of more than 500 million Swiss francs (US$370 million) and forecast continued weakness in 2003.

Last year Chief Executive Andre Dose said the company expected to break even in 2003.

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