Swiss International Air Lines (SWISS) reported higher profits in the third quarter. During the busy summer period, 99% of its flights were carried out, despite strikes, difficult weather or staff shortages at partner companies.
This content was published on
2 minutes
Keystone-SDA
The airline made an operating profit of CHF277.6 million during the three summer months, compared to CHF220.5 million the previous year.
From July to September, SWISS also increased sales by almost 11% to CHF1.5 billion, it announced on Thursday.
Sales for the first nine months of this year hit CHF4 billion – almost the same as in the year before the Covid-19 pandemic. The operating profit climbed massively to CHF615.9 million. Last year, Swiss had a surplus of CHF287.5 million; before the pandemic it was CHF490 million.
This is the strongest operating result in the company’s history, SWISS said. The aftermath of the coronavirus pandemic is more than over at the Lufthansa subsidiary. At the start of the pandemic in 2020, sales collapsed and the company posted losses quarter after quarter.
“Our competitive cost structures benefited us as a result of the restructuring in connection with the pandemic. For example, our administrative costs remain below the level before the pandemic,” Chief Financial Officer Markus Binkert said in a statement.
For the full year 2023, Swiss now expects “a very good result,” it said.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
Swiss cantonal ministers keep low profile on social media
This content was published on
A small base of followers and neutral posts: these are the conclusions that emerge from a study published by UNIL researchers into the use of social networks by councillors of state.
Swiss rents forecast to rise up to 5% annually, housing chief warns
This content was published on
Rents on the Swiss market are set to rise by between 3% and 5% a year over the next few years, warned Martin Tschirren, Director of the Federal Housing Office (FHO), on Sunday. "Demand for housing remains higher than supply".
This content was published on
The Council of the Swiss Abroad, meeting today in Bern, passed a resolution in favour of the new Electronic Identity Act (Id-e), which will be put to the vote on 28 September.
One person consumes 4.8 megawatt hours of electricity
This content was published on
On average, the Swiss consume 4.8 megawatt hours of electricity per year. According to Velobiz.de, this is roughly equivalent to the amount generated by all 176 cyclists in the Tour de France during the entire race.
Outgoing ICRC chief in Ukraine defends neutrality amid war
This content was published on
Swiss national Jürg Eglin, outgoing head of the International Committee of the Red Cross in Ukraine, reflects on his tenure.
Green party leader criticises government’s neo-liberal policy
This content was published on
The Green Party delegates' meeting opened on Saturday morning in Vicques (JU) with a speech by party president Lisa Mazzone. Mazzone took particular aim at the Federal Council's policy towards the United States.
Working on Sundays is detrimental to well-being, says Swiss study
This content was published on
A study by the University of Bern shows that working on Sundays is detrimental to well-being and particularly affects women.
Safra Sarasin private bank and former asset manager sentenced
This content was published on
The Office of the Attorney General of Switzerland has fined private bank J. Safra Sarasin CHF3.5 million for aggravated money laundering. A former bank employee received a six-month suspended prison sentence.
JPMorgan to pay CHF270 million to settle 1MDB claims
This content was published on
JPMorgan Chase has agreed to pay CHF270 million to the Malaysian government to settle all issues related to its role in the 1MDB financial scandal.
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.