Swiss to cut fleet as crisis drags carrier to Q1 loss
Swiss is planning to reduce its fleet, after incurring a Swfr84.1m ($86.1m) operating loss in Q1. That compares with an operating profit of Swfr48.3m in the same period of 2019. Revenue declined 20% in this year’s Q1, to Swfr923m, while passenger numbers fell 21%. Swiss says it will be “resizing its fleet by deferring deliveries of short- and medium-haul aircraft” and is “further considering withdrawing older aircraft earlier than planned”. Cirium fleets data shows the airline has 16 Airbus A320neos, eight A321neos and a single A220-300 on order. The A220-300 is the last from an order for 30 A220s, deliveries of which began in 2016. Swiss’s finance chief Markus Binkert states that the government loan guarantees, financial support from Lufthansa, and cost-saving measures “will enable us to bridge any liquidity gap”.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-06-04/star/swiss-to-cut-fleet-as-crisis-drags-carrier-to-q1-loss
https://portal.staralliance.com/cms/logo.png
Swiss to cut fleet as crisis drags carrier to Q1 loss
Swiss is planning to reduce its fleet, after incurring a Swfr84.1m ($86.1m) operating loss in Q1. That compares with an operating profit of Swfr48.3m in the same period of 2019. Revenue declined 20% in this year’s Q1, to Swfr923m, while passenger numbers fell 21%. Swiss says it will be “resizing its fleet by deferring deliveries of short- and medium-haul aircraft” and is “further considering withdrawing older aircraft earlier than planned”. Cirium fleets data shows the airline has 16 Airbus A320neos, eight A321neos and a single A220-300 on order. The A220-300 is the last from an order for 30 A220s, deliveries of which began in 2016. Swiss’s finance chief Markus Binkert states that the government loan guarantees, financial support from Lufthansa, and cost-saving measures “will enable us to bridge any liquidity gap”.<br/>
