Can't say I'm surprised. The disgraceful Swiss in Europe idea was unprofitable from day dot... Mr. Meaney managed to both reduce yields and pax numbers in Europe, that was quite a remarkable achievement. Worse still, Swiss continued to make up the most lame excuses such as the declining number of pax on European flights being the result of increased OD traffic on its longhaul routes... which is Economics 101 nonsense. Their european product is confusing (pay for water, but get 1,000 club miles) and uncompetitive even as a feeder for longhaul services. Finally management is doing something about it... but as in most cases the problem may be management itself.