Board members at Swiss agree to salary cut

Six members of board to forgo 5% of their salary

The six members of the extended management board at the airline Swiss have agreed to forgo 5% of their salary from July 1 until the end of 2015. The decision is being taken in light of what the airline calls “persisting extreme difficulties that are being faced by the airline business”.
The airline said in a statement: “Yields are still very low, while fuel costs are likely to remain an additional burden for the foreseeable future. Swiss is also facing the further competitive challenge of a strong Swiss franc.”
The board members said that this was their contribution to efforts – particularly under the Lufthansa Group’s cost-cutting Score program – to achieve an operating result from 2015 onwards that will keep Swiss competitive and able to fund its future investments.
Aviation Tribune