Swiss To Break Even This Year Says CEO

22nd Apr 2004

Swiss International Air Lines still aims to break even for the first time this year, its new chief executive said on Thursday, as he continues the turnaround already on the way. “This goal is my goal, too,” Christoph Franz, who was named the new CEO of the loss-making flag carrier on Monday, told the Die Welt newspaper in an interview.

Swiss, formed just over two years ago from the remnants of failed national airline Swissair and regional carrier Crossair, said in March it aimed to break even at the operating level this year and that it had enough cash to keep flying.

“Swiss is in the middle of a turnaround,” Franz said. “A large part of the way has been successfully covered. I want to continue on this route,” he said, but did not give any details of his strategy.

Swiss decided last year to join the oneworld alliance of international airlines led by British Airways and American Airlines but full integration has been delayed over problems with integrating its air miles incentives program with BA’s.

“I deem the… cooperation with oneworld and British Airways as the biggest partner as right,” Franz said.


“If there are stumbling blocks there one might potentially have to consider alternatives but that is not currently up for debate,” said Franz, who used to work for Lufthansa in the early 1990s.

Swiss was torn last year between joining the German rival which is a leading member of the Star Alliance of airlines and teaming up with BA and its oneworld alliance.

Franz is due to join Swiss on May 1 and will take over his position at the helm of the airline on July 1.



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