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4-May-2021 5:12 PM

SWISS continues strict cash management, expects 1000 more positions to go by end of 2021

Swiss International Air Lines (SWISS) reported (29-Apr-2021) it continued to exercise strict cash and cost management throughout 1Q2021. Projects not essential to operations were halted, investments deferred, and deliveries of new aircraft postponed. Upper management personnel numbers were also reduced by 20%, and the levels of short-time working were kept consistently high. The carrier reported a further 1000 positions will also have been eliminated by the end of 2021, achieved through voluntary personnel measures and natural staff turnover. [more - original PR

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