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.
Switzerland to introduce flight passenger database
This content was published on
Switzerland plans to introduce a flight passenger database to collect and process personal data in a bid to combat terrorism and serious crime.
Government plans to invest over CHF16bn in Swiss rail network
This content was published on
The federal government intends to invest CHF16.4 billion ($18.1 billion) in railway infrastructure between 2025 and 2028, CHF2 billion more than for the current period.
Swiss to vote on pension reform and biodiversity in September
This content was published on
Swiss citizens will vote on occupational pension schemes and a biodiversity initiative on September 22, the Federal Council announced on Wednesday.
Ukraine peace talks: 50 countries have confirmed participation
This content was published on
To date, 50 countries out 160 invited delegations have confirmed they will attend the Ukraine peace conference, held in central Switzerland in mid-June, according to Swiss public radio, RTS.
Federer-backed On boosts forecast after sneaker demand rises
This content was published on
Swiss footwear company On Holding AG posted strong first-quarter revenue, boosted by demand for its running shoes and new line of training apparel.
Michael Schumacher’s watches fetch CHF4 million at Swiss auction
This content was published on
Watches belonging to Formula 1 great Michael Schumacher sold for around CHF4 million ($4.41 million) at auction house Christie's in Geneva on Tuesday.
Macron will attend Swiss summit on Ukraine, says Zelensky
This content was published on
French President Emmanuel Macron will attend the peace conference on Ukraine at the Swiss Bürgenstock resort next month, according to Volodymyr Zelensky.
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.