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Slot sale helps cut Swiss losses
Saturday, 17 Feb, 2005
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The sale of take off and landing slots at Heathrow helped Swiss International Air Lines reduce its losses last year.
The airline’s pre-tax losses were down to £55 million from £226 million in 2003.
The reduction was helped by a £43 million gain from the surrender of slots at Heathrow to British Airways, for which the UK carrier made a part-payment in the last quarter of 2004, according to Swiss.
The airline said the figures for last year were affected by “impairments” to regional aircraft and buildings costsing almost £80 million.
Swiss is to release its full financial statement for 2004 on March 11.
Report by Phil Davies
Phil Davies
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