Despite high fuel costs and staffing issues, Swiss International Air Lines (SWISS) has posted a profit for the first time since the start of the Covid-19 pandemic.
This content was published on
2 minutes
Keystone-SDA/dos
Português
pt
SWISS sai da zona vermelha na primeira metade de 2022
The airline posted an operating profit of CHF67 million ($69.9 million) for the first six months of 2022, driven by “sizeable booking demand and the improved profitability provided by its completed restructuring activities”, it said on ThursdayExternal link.
Higher fuel costs, driven by the global rise in oil prices, were partially offset by increased bookings and higher ticket prices, SWISS said. Compared to the same period in 2021, passenger numbers were five times higher, at 5.3 million.
The airline’s cargo business also contributed to the positive figures.
Post-pandemic comeback
The results come after two difficult years, driven by the drop in travel due to the Covid-19 pandemic: in 2020 SWISS recorded losses of CHF654 million, and was granted a financial guarantee of up to CHF1.5 billion by the Swiss government.
In 2021, faced with continued disruption, the company posted losses of CHF427.7 million.
This year, the group said, it hopes to continue in the black and post positive results for the whole of 2022. This is despite ongoing issues, notably cancelled flights (a total of 676 Swiss flights between August and October have been shelved) sparked by the restructuring and staff dismissals.
On Thursday, the group said it wanted to reinvest in “further improving our customer services and in our own personnel”. The AWP agency reported that SWISS plans to hire some 800 cabin crew staff between now and mid-2023.
Popular Stories
More
Multinational companies
Azeri fossil-fuel cash cow brings controversy to Switzerland
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
SWISS continues to suffer from impact of pandemic
This content was published on
Swiss International Air Lines has reported an operating loss of CHF398 million ($440 million) for the first six months of the year.
This content was published on
Additional cancellations are “unavoidable” because of staff shortages, a company spokesperson told the Keystone-SDA news agency on Sunday.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.