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Air traffic results – Swiss flies back into the profit zone – News

4 August 2022

In the first half of the year, Swiss continued its recovery from the corona slumps.
Now she is writing profit again: in the first half of the year, the airline earned 67 million francs.
In the same period last year, Swiss had made a loss of almost 400 million.

Thanks to high demand, the financial prospects are also favorable, says the company, as is the case with the parent company Lufthansa.

Passenger numbers quintupled

Demand has recently picked up again significantly: Between January and June, Swiss turned over CHF 1.8 billion, compared to CHF 659.3 million in the previous year. However, the 2.57 billion from the pre-crisis year 2019 are still a long way off.

This is also reflected in the passenger numbers: in the first half of the pre-Corona year 2019, almost 8.8 million passengers flew with Swiss, now there are 5.3 million. Compared to the previous year, however, it is five times more.

According to the statement, the airline has benefited from strong booking demand and the restructuring.

Higher ticket prices helped

After the end of the corona measures in many countries, many Swiss were drawn abroad again. However, the recovery of the European aviation industry was not without difficulties: staff shortages, strikes and breakdowns caused turbulence. For example, Swiss had to cancel hundreds of flights due to a lack of staff.

And a A breakdown in Skyguide air traffic control cost the airline “several million francs”, as Swiss boss Dieter Vranckx said in an interview at the end of June. Added to this was the increase in fuel costs, which is usually the largest cost item for an airline. However, due to the sharp increase in travel activity, Swiss was able to partially compensate for the higher kerosene costs with higher ticket prices, the airline wrote.

Profitable full year expected

In the announcement, Swiss reiterated its goal of being in the black for the year as a whole. The booking situation also looks good for the rest of the summer. Nevertheless, very high kerosene prices are to be expected and an economic slowdown is to be expected, according to Swiss. In addition, the bottlenecks in resources posed major challenges for aviation. However, its solid structure and cost base enabled Swiss to look positively at the second half of the year.

At the beginning of June, Swiss returned the billion-euro loan with which the federal government and banks had helped it in the corona crisis. In the future, the Lufthansa Group intends to secure financing via the capital market again. In addition, the crisis measures agreed with the staff in Switzerland are now to be dismantled earlier than planned.