Air Lib: more and more deficits (la Tribune)

It was something to expect. In an economic situation devastated by the attacks of last September 11th, Air Lib, which was already weakened by Swissair withdrawal, will not manage to do what was planned by the rescuers (the Holco company). La Tribune reviews the situation. In the article "Pour tenir le cap, Air Lib devra tailler dans ses effectifs et sa flotte", they focus on the first “failures”. For 2001, the operating deficit expected to 450 million francs is thus reviewed upwards to 600 million francs for a turnover of 1.7 billion francs. Emergency measures have been taken with the support of the public authorities (exoneration of AVT, postponement of social taxes, etc.).

But the situation will not get any better for 2002. Whilst, the company had planned a 100 million franc deficit for a recovery in 2003, a loss between 560 and 860 million francs is now expected. Intolerable according to François Bachelet, the CEO of Air Lib. Hence some new lines cancellations in the future and some armful job redundancies for a company which has already lost many jobs (a staff composed of 2.750 people today).