SWISS reports lower profit in first quarter

SWISS with lower profit in the first quarter Keystone-SDA

Swiss International Air Lines (SWISS) achieved slightly higher sales at the start of the year. However, profits fell sharply, partly due to the late Easter.

+Get the most important news from Switzerland in your inbox

The Lufthansa subsidiary increased its turnover in the traditionally weak first quarter by 2% to CHF1.2 billion ($1.45 billion). However, operating profit fell to CHF3 million, the airline said on Tuesday. In the first quarter of 2024, it was CHF31 million.

The dip is partly due to the later Easter period, which only fell in April this year, according to the statement. On the other hand, costs have risen, such as personnel costs. However, the freight business and lower fuel prices compared to the previous year had a positive effect, according to the press release.

+ SWISS and Lufthansa among Europe’s worst for punctuality

CFO Dennis Weber now expects business to develop well in the coming months and a significantly higher result in the second quarter. However, uncertainty has increased due to the political situation in the US, he said.

Translated from German by DeepL/ts

How we work

We select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate them into English. A journalist then briefly reviews the translation for clarity and accuracy before publication. Providing you with automatically translated news gives us the time to write more in-depth articles. The news stories we select have been written and carefully fact-checked by an external editorial team from news agencies such as Bloomberg or Keystone.

Did you find this explanation helpful? Please fill out the short survey below to help us understand your needs.

Don’t miss your chance to make a difference! Take our survey and share your thoughts.