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SWISS increases ticket and fuel surcharge prices to boost revenues

SWISS flights will now become costlier as the airline has raised fares and tightening its belt to curb losses.

Swiss International Air Lines, more popularly known as SWISS, recently announced that it is raising SWISS flights tickets prices and fuel surcharge as well as reshuffling ground staff to stave off stiff competition and ever rising costs.

SWISS, which is owned by Lufthansa Group and is its star performer, has been asked by the company to initiate effective cost cutting measures and save $107 million (100 million Swiss Franc) by 2015.

Lufthansa had earlier this year announced a cost saving program called ‘Synergies, Costs, Organization, Revenue, Execution’ (SCORE). The current initiative being taken by SWISS is part of an ambitious efficiency drive to save a total of $1.9 billion.

SWISS has been asked to undertake cost savings exercise as despite enjoying a stellar year in 2011 when it gained $327 million (306 Swiss Franc) operating profit, but this impressive figure still fell 17 percent below the 2010 figure. SWISS in the first quarter of 2012 suffered a loss of $4.10 million (4 million Swiss Franc).