Volcanic ash fails to cloud Swiss airline results

Swiss International Air Lines has reported an operating profit of SFr368 million ($408 million) for 2010.

This content was published on March 17, 2011 - 09:49 and agencies

The result compares to a SFr146 million operating profit for the previous year.

In a statement, the Lufthansa-owned company said it achieved the 2010 results despite earnings being depressed by about SFr30 million due to the volcanic ash cloud crisis last spring, and despite a strong Swiss franc and rising fuel prices.

Total income from operating activities amounted to SFr4.77 billion, a nine per cent improvement on 2009. The passenger air service, Swiss, generated an operating profit of SFr135 million in the fourth quarter.

For the year, Swiss had a seat load factor of 82.3 per cent, which was a two per cent increase on 2009 and a new record for the company.

“2010 was a good year for Swiss,” said Chief Executive Officer Harry Hohmeister. “After a tough start to the year and the setback of the volcanic ash crisis, we were able to report an exceptionally strong second-half performance.”

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