Air Transport World

Swisscargo.

Swisscargo, the air-freight arm of SairGroup, reported that annual operating profit fell 90% from Sfr28.l million in 1997 to Sfr3.2 million ($2.1 million) in 1998. Revenues rose 7.2% to Sfr995.5 million.

The carrier blamed unfavorable exchange rates that "cut Sfr29 million off operating profit because of the massive depreciation of various Asian currencies. …

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