Hard times at Swiss International Air Lines which is to shed up to 1,000 jobs in a bid to make 150 million euros savings by 2007. The company said it plans to focus on areas where it is profitable and competitive. More than a third of the job-losses will go through unforced departures. Swiss will also reduce its fleet by at least 13 planes on regional routes.
This is the company’s fourth restructuring plan in less than four years. It has been badly hit by the emergence of budget, no-frills airlines. It made a 10 million euro profit in the third quarter of last year, its first since it was created in 2001 on the ruins of the national carrier Swissair.