Middle East region represents 17 percent of SWISS revenue

The airline has completed 60 percent of its turnaround initiative, putting SWISS on track towards profitability by 2005. SWISS confirmed that the Middle East region accounts for a robust 17 percent of total revenue.

Speaking at the Arabian Travel Market 2004, Harriet Siebenpfeiffer, General Manager for Sales & Market Intercontinental Markets, Swiss International Air Lines, said: "On the whole we experienced a very successful year. Just last month our annual results were announced with a better-than-expected financial position thanks to the progress in our restructuring programme and the gradual recovery in the markets we serve."

The airline confirmed that problems with the industry as a whole have dampened outlooks for many of the traditional flag carriers. However, SWISS' decision to downsize and modernise their fleet, as well as create a flexible-pricing structure for Economy Class on European routes with the European Business Concept, has allowed the airline to look at the creation of a liquidity buffer to cushion the impact of unforeseen events.

"Careful cash management saw our operating loss for 2003 amount to CHF 498 million, a sharp improvement over the CHF 909 million loss reported for the previous year with our liquid assets estimated at CHF 503 million. We are also firmly committed to our business here in the Middle East. The region represents 17 percent of SWISS' revenue, and when you consider that we offer services to six destinations in the region out of a network covering 70 destinations, it contributes considerably to our overall business result," stated Felix Rodel, Area Manager for Middle East, Pakistan and Iran, Swiss International Air Lines.

SWISS representatives have travelled from each of the markets served by the airline to attend this year's Arabian Travel Market. Representatives from Riyadh, Jeddah, Karachi, Muscat, as well as the regional office in Dubai are here to meet with agents and industry officials from across the Middle East.

Rodel continued: "The Arabian Travel Market is the quintessential travel and tourism fair, and the only event whereby we can meet with our partners to negotiate the best travel offers for our customers. For tourism offers, both inbound and outbound, the best deals are discussed and agreed here - it provides the ideal forum."

As a country, Switzerland has a wealth of options for travellers, including some of the world's leading ski resorts, spa and wellness resorts, famous historical cities and world-class shopping. Golf is another major focus for the country, as it offers up some of Europe's most prestigious and well-kept courses. SWISS created the Swiss Golf Traveller package specifically to cater to golf enthusiasts, both at home and abroad.

SWISS travellers can also avail of the SWISS Family Fares promotion, which entitles families with five members or more to considerable savings. Additionally, passengers booking through SWISS' e-booking service can obtain the best fares, with the extra benefit of free delivery of tickets or easy collection from the airport prior to departure.