Swiss boss admits certain mistakes during Corona
Published: Wednesday, Jun 5th 2024, 14:00
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Swiss CEO Dieter Vranckx's assessment of the end of his term of office at the Swiss airline is not all positive. "We almost completely cut back on investments during the crisis due to coronavirus and we should actually have continued to invest in certain areas," he said in an interview with the Handelszeitung newspaper on Wednesday.
In some areas - such as the renewal of the aircraft fleet - Swiss stuck to the planned investments. "That was courageous, considering our financial situation at the time with a loss of CHF 1 billion over two years," says Vranckx. In other areas, however, expenditure had been cut back too much, for example on new seats. But with hindsight, it is ultimately "always easy to take a critical look at decisions made back then", said Vranckx.
He sees the successful turnaround and restructuring following the coronavirus crisis as the highlight of his time in office. "And the fact that we broke even in 2022," says the CEO. This has laid the foundation for being able to invest again.
Vranckx, who took up his post at the beginning of 2021, will leave the company at the end of the month to take up the position of Chief Commercial Officer at parent company Lufthansa. A successor has not yet been presented. Vranckx explains why this is the case with the importance of the matter. "It is important for Swiss that the right person comes in from July 1," he said. A decision will be made soon.
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