SF Gate: ''Swiss'' airline shares suspended for two days pending board meeting

[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

 



=20
----------------------------------------------------------------------
This article was sent to you by someone who found it on SF Gate.
The original article can be found on SFGate.com here:
http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2003/06/23/f=
inancial0812EDT0015.DTL

----------------------------------------------------------------------
Monday, June 23, 2003 (AP)
''Swiss'' airline shares suspended for two days pending board meeting



   (06-23) 05:12 PDT BASEL, Switzerland (AP) --
   Trading in shares of national carrier Swiss International Air Lines was
suspended for two days starting Monday because of possible decisions by
the board of directors, the airline said.
   Swiss news media have reported that Switzerland's flag carrier may cut as
many as 3,000 jobs and reduce its long-haul fleet to 18 planes from 26.
   The airline, known as Swiss, has embarked on cost-cutting this year and
said in May that more drastic measures were needed because of economic
problems plaguing the airline industry.
   Swiss, the successor to the now-defunct Swissair, already had said it
plans to cut costs by 600 million Swiss francs ($452 million) this year.
   "At Swiss' request, the Swiss stock exchange is to withdraw shares in
Swiss International Air Lines from trading," said a company announcement.
"This measure is related to the board of directors' meeting ... and to the
possible announcement of any decisions."
   Swiss Transport Minister Moritz Leuenberger was quoted in Swiss newspape=
rs
over the weekend as saying restructuring would improve the company's
chances on the capital market.

=20
----------------------------------------------------------------------
Copyright 2003 AP

[Index of Archives]         [NTSB]     [NASA KSC]     [Yosemite]     [Steve's Art]     [Deep Creek Hot Springs]     [NTSB]     [STB]     [Share Photos]     [Yosemite Campsites]