Air Transport World

Swiss International Air Lines.(1st-half earnings)(Brief Article)

Swiss International Air Lines narrowed its fiscal first-half net loss to Sfr333 million ($241 million) from Sfr447 million in 2002. Results were lifted by sharp curtailment of personnel and operational costs through payroll reductions, shrinking the network and grounding aircraft. Revenues increased 17% to Sfr2.05 billion while operating expenses climbed 9.1% to Sfr2.44 billion, resulting in an operating loss Sfr346 million, improved from an operating loss of Sfr433 million last year. Cash drain has slowed aim liquidity was Sfr811 million at the end of June compared to Sfr913 million on March 31. …

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