The operating environment proved difficult, marked by geopolitical and trade tensions, SWISS said on Thursday.
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SWISS Airlines saw its adjusted operating profit fall by more than a quarter in the first six months of the year, to CHF195.1 million ($240 million). Caution is called for in the second half of the financial year, the Lufthansa subsidiary said on Thursday.
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In the first half of the year, operating income remained virtually stable at CHF2.69 billion, as did the number of passengers, at 8.5 million. Over 70,000 flights were operated, 1.8% more than in the previous year. The average load factor declined by 1.8 percentage points to 80%.
In the second quarter alone, total operating revenue amounted to CHF1.47 billion, down 1.2% year-on-year.
The environment proved difficult, marked by geopolitical and trade tensions. “Rising costs, particularly for personnel and fees, also significantly affected our profitability. Structural constraints, such as persistent shortages of aircraft, engines and pilots, also weighed on our results”, CFO Dennis Weber is quoted as saying in a press release.
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Demand from non-premium classes on transatlantic routes has weakened, with an immediate impact on average revenues.
On the positive side, the trend in fuel prices has been favourable. In addition, the airline was able to improve its punctuality, with 72.4% of flights taking off on time, up 3.9 percentage points on the first half of 2024. In the cargo segment, early deliveries of goods due to customs disputes underpinned performance.
Caution is called for, both for the rest of the year and for 2026, as cost pressures continue and the environment remains unstable. “We are continuing to focus on cost control and targeted investment in stability, product quality and innovation,” said CEO Jens Fehlinger.
Translated from French with DeepL/gw
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