This article from NYTimes.com has been sent to you by psa188@xxxxxxxxx Swiss Airline Loses $706 Million March 14, 2003 By THE ASSOCIATED PRESS Filed at 12:26 p.m. ET BASEL, Switzerland (AP) -- Switzerland's new national airline, Swiss International Air Lines, said on Friday it lost 980 million Swiss francs ($706 million) in its first year of business. Swiss said its results reflected one-time spending of 180 million francs ($129.7 million) as it transformed itself from a European regional airline to a worldwide carrier. Sales in 2002 were 4.3 billion francs ($3 billion). The figures were announced ahead of a more detailed annual report due to be released March 25. In Zurich, Swiss stock rose 12.5 percent to close at 4.50 francs ($3.36) on Friday. Swiss formally came into being in March 2002, bringing together the remnants of the former national carrier, Swissair, which collapsed in October 2001, and its profitable former subsidiary Crossair, a regional carrier. Last month the airline announced it was getting rid of 20 planes -- from a fleet of 132 -- slashing routes and cutting around 700 jobs. Swiss has about 10,000 employees. Swiss reiterated Friday that the decision was a result of ``the continuing economic recession and the radical crisis afflicting the world airline industry.'' http://www.nytimes.com/aponline/business/AP-Earns-Swiss.html?ex=1048666419&ei=1&en=da537cf015272a95 HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@xxxxxxxxxxx or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@xxxxxxxxxxxx Copyright 2003 The New York Times Company