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Swiss CEO says airline will break even in 2003
Swiss CEO says airline will break even in 2003
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Swiss International Air Lines AG (Swiss) will break even in 2003 even if it will be a difficult year, the airline's CEO Andre Dose said during a speech held in Montreux. It will be possible to break even thanks to measures like the recently announced hiring freeze, he said. "The months of August, September and October were good," he said. New aircrafts will be acquired according to earlier plans, he added. The European airline sector faces further consolidation, Dose forecast, adding only three global airline alliances will survive. 'Swiss' will not be able to join the OneWorld alliance before the year-end, but talks should hopefully be concluded in early 2003, he said. The principal risk facing the airline industry is the overcapacity in Europe, resulting in squeezed margins, and the competition of low cost carriers, he said. A deterioration of the situation in the Middle East or in Irak would be another obstacle to growth, he said</font> |
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Dunno--why don't y'all have people write in to invest/donate money to Swiss?? Or maybe they would be better off just burning their cash?? Dose is lying and I don't give the airline past late 2004 unless they get a huge infusion.
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Hfly I am also pessimistic. But it would still be sad if they do not survive (though I am allergic to the company/the management), in view of the huge investment the Swiss Government/Swiss taxpayers have made in the company.
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