MD90
18-10-2004, 13:49
Fra Neue Zürcher Zeitung:
The soaring cost of fuel is a big setback for Swiss International Airlines, which has been carrying out a cost-cutting and efficiency drive in the hope of breaking even in 2005. With crude oil at over US$ 55 a barrel and aeroplane fuel US$ 17 per barrel extra, Swiss fears that its losses for 2004 will again be in the three-digit million franc range (SFr 100mn = US$ 79.16mn), despite all its efforts. It now employs only 81 people per aircraft, compared to Lufthansa's 227 and EasyJet's 70 or so, and it is trying to force its biggest supplier, SR Technics, to reduce its annual bill by up to SFr 70mn (US$ 55.41mn). A court of arbitration is examining the contract at present.
The soaring cost of fuel is a big setback for Swiss International Airlines, which has been carrying out a cost-cutting and efficiency drive in the hope of breaking even in 2005. With crude oil at over US$ 55 a barrel and aeroplane fuel US$ 17 per barrel extra, Swiss fears that its losses for 2004 will again be in the three-digit million franc range (SFr 100mn = US$ 79.16mn), despite all its efforts. It now employs only 81 people per aircraft, compared to Lufthansa's 227 and EasyJet's 70 or so, and it is trying to force its biggest supplier, SR Technics, to reduce its annual bill by up to SFr 70mn (US$ 55.41mn). A court of arbitration is examining the contract at present.