Switzerland’s largest international airport posted a loss in 2020, hit hard by an historic slump in traffic due to the pandemic.
This content was published on
2 minutes
Keystone-SDA/Zurich airport/SWI swissinfo.ch/ilj
Flughafen Zürich AG, which operates Zurich airport, said in a statementExternal link on Friday that consolidated loss for the 2020 financial year amounted to CHF69.1 million (almost $75 million). Revenue fell from around CHF1.2 billion to CHF624 million (-48.4%) in 2020.
“The coronavirus pandemic represents a major challenge for the entire aviation industry as well as for Flughafen Zürich AG and is impacting all areas of business,” the statement said
In 2020 Zurich airport saw a little over 8.3 million passengers. This was a year-on-year drop of 73.5%, according to the statement. Flight movements fell by almost 60%. The decrease in traffic was “historic” the airport company said.
Standstill
Airport traffic came to an almost standstill in the spring when Switzerland went into a lockdown during the first wave of the virus. Photos showed lines of grounded airplanes. But the airport remained open and was able to operate repatriation and rescue flights.
Stephan Widrig, CEO of Flughafen Zürich AG, said that the company had waived its dividend payment for 2020. In addition, there would be “comprehensive cost-cutting measures” and adjustments to investment planning. The company has also raised additional capital on the bond market.
On the upside, the flagship commercial Circle project of retail stores opened in November, and has an occupancy rate of 85%.
More
More
Zurich airport opens flagship commercial project to public
This content was published on
Zurich airport has opened its CHF1.2 billion conferencing, leisure and retail complex to the public – right in the middle of the coronavirus pandemic.
The outlook for 2021 is still surrounded by a “great deal of uncertainty,” the statement said, and will depend on when current travel restrictions are eased. CEO Widrig called for vaccinations to be taken into account.
“Anyone who provides proof of vaccination or a negative Covid test should be able to travel without restrictions and also be exempt from quarantine rules. We will continue to place great importance on hygiene and protective measures in the future to ensure that air travel from Zurich Airport is safe. But we urgently need conditions that allow travel to be planned again,” he said.
Popular Stories
More
Foreign affairs
What Trump’s return or a new Harris administration would mean for Switzerland
More than 400,000 cross-border commuters now work in Switzerland
This content was published on
More than half of all cross-border commuters were resident in France (around 57%). Large proportions also lived in Italy (23%) and Germany (around 16%).
Amherd and von der Leyen discuss ongoing Swiss-EU negotiations
This content was published on
Swiss President Viola Amherd and EU Commission President Ursula von der Leyen have met and talked about the ongoing negotiations between Bern and Brussels.
This content was published on
One million francs, 34 million euros and around 830 kilos of gold: this is the fortune that two Swiss nationals are accused of having moved across borders for at least four years.
Girls in female-dominated classes earn more later on
This content was published on
At the age of 30, women from school classes with a 55% share of girls earn $350 more per year than women from classes with a 45% share of girls.
This content was published on
Geneva-based luxury goods group Richemont reported a downturn in performance for the first half of its 2024/25 financial year. Both sales and profit declined.
COP29: Swiss NGOs call for strong financial support
This content was published on
Ahead of COP29, Swiss NGOs call for wealthy nations to pay $1,000 billion a year to help other countries solve climate problems.
Real Swiss wages likely to rise in 2025, says UBS bank
This content was published on
Higher wages and falling inflation are likely to boost Swiss purchasing power, which will be dragged back by rising health premiums.
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
Zurich airport extends Covid-19 testing services
This content was published on
Passengers departing from Zurich airport will have access to Covid-19 antigen tests as well as swab (PCR) tests, as of March 1.
Zurich Airport postpones new terminal due to Covid-19
This content was published on
Switzerland’s busiest airport has postponed building a new terminal and frozen investments for three years due to the coronavirus, its CEO Stephan Widrig said on Friday.
This content was published on
Covid-19 has had a severe economic impact on Zurich airport, with a near-total collapse in revenues at times, according to first half results.
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.