Swiss shares suspended for two days

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Swiss shares suspended for two days

BASEL, Switzerland (AP) =97 Trading in shares of national carrier Swiss=20
International Air Lines was suspended for two days starting Monday because=
=20
of possible decisions by the board of directors, the airline said. Swiss=20
news media have reported that Switzerland's flag carrier may cut as many as=
=20
3,000 jobs and reduce its long-haul fleet to 18 planes from 26. The=20
airline, known as Swiss, has embarked on cost-cutting this year and said in=
=20
May that more drastic measures were needed because of economic problems=20
plaguing the airline industry. Swiss, the successor to the now-defunct=20
Swissair, already had said it plans to cut costs by 600 million Swiss=20
francs ($452 million) this year. "At Swiss' request, the Swiss stock=20
exchange is to withdraw shares in Swiss International Air Lines from=20
trading," said a company announcement. "This measure is related to the=20
board of directors' meeting ... and to the possible announcement of any=20
decisions." Swiss Transport Minister Moritz Leuenberger was quoted in Swiss=
=20
newspapers over the weekend as saying restructuring would improve the=20
company's chances on the capital market.


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