newstodate.aero
MAR 25, 2003 (newstodate): Swiss has announced major changes in its ongoing aircraft acquisition program.
The company isreducing its firm orders for EMBRAER 170 and EMBRAER 195 aircraft from 60 to 30, with the first deliveries rescheduled to 2004. The number of options held on the new types is also being reduced, from 100 to 20 aircraft.
SWISS is also in negotiations with Airbus. The first seven A340s will be delivered to plan. Talks aimed at rescheduling delivery of the final five A340s are currently in progress with Airbus.
These changes will reduce SWISS's capital spending by close to CHF 1 billion. They will also lower the company's expenditure for 2003 by
a good CHF 170 million. A large part of the advance payments already effected on the new fleet will be refunded, and the expenditure involved in introducing a new aircraft type will not be incurred until 2004.
The company isreducing its firm orders for EMBRAER 170 and EMBRAER 195 aircraft from 60 to 30, with the first deliveries rescheduled to 2004. The number of options held on the new types is also being reduced, from 100 to 20 aircraft.
SWISS is also in negotiations with Airbus. The first seven A340s will be delivered to plan. Talks aimed at rescheduling delivery of the final five A340s are currently in progress with Airbus.
These changes will reduce SWISS's capital spending by close to CHF 1 billion. They will also lower the company's expenditure for 2003 by
a good CHF 170 million. A large part of the advance payments already effected on the new fleet will be refunded, and the expenditure involved in introducing a new aircraft type will not be incurred until 2004.