Swiss sees its profit plummet over nine months

Swiss sees its profit plummet over nine months
Swiss sees its profit plummet over nine months

Keystone-SDA

The Swiss airline lost altitude during the first nine months of 2024, penalized by cost increases. Usually calmer, the last quarter will probably not allow us to reach last year’s records.

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October 29, 2024 – 09:14

(Keystone-ATS) From January to September, the national carrier saw its net profit fall by 18% year-on-year to 505 million francs, it wrote in a press release on Tuesday. Operating income reached 4.2 billion, an increase of 5.7% compared to the same period last year.

“During the peak summer travel season, we continued to benefit from strong demand for tourism destinations as well as leisure travel. Our expenses have simultaneously increased, mainly in the areas of taxes, maintenance and personnel,” points out Dennis Weber, financial director of Swiss, quoted in the press release.

The Swiss subsidiary of the German group Lufthansa transported 5.2 million passengers from January to September, compared to 4.9 million during the same period last year.

In the third quarter alone, i.e. between July and September, traditionally the most intense, operating profit stood at 240.8 million, significantly below the 277.6 million recorded in the third quarter of 2023.

For the entire financial year, the company anticipates “a good financial year” despite a decline in revenues and continuing pressure on costs, it indicates, without giving details.

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