Swiss Airlines cargo down 23

SWISS International Air Lines cargo traffic fell 23 per cent in 2008. The airline saw 6.5 per cent drop in profits to SFr507 million (US$435 million) but a significant rise in passenger traffic rose the operating income by 7.6 per cent to SFr5.3 billion ($4.4 billion).

Swiss has responded by cutting the frequency of some routes or using smaller aircraft as well as heavily reducing staff overtime and offering them unpaid leave.

Swiss increased the workforce from 7,277 to 7,337 employees last year and is also planning on continuing its fleet renewal programme between 2014 and 2016.

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