Swiss flies profitably despite harsh headwinds

Swiss International Air Lines (Group) recorded an operating profit of SFr146 million ($136 million) for 2009.

This content was published on March 11, 2010 - 10:45

The airline, owned by German state carrier, Lufthansa, said in a statement that total income from operating activities last year declined by 17 per cent to SFr4.36 billion compared with 2008.

Swiss CEO Harry Hohmeister said he was satisfied with the airline’s performance. “We achieved a black-ink result in all four quarters; and we were able to do so despite sizeable declines in our revenues and a tangible migration from higher to lower booking classes,” he explained.

Swiss contributed significantly to Lufthansa’s 2009 operating profit of €130 million ($177 million).

The airfreight business of Swiss also showed signs of recovery towards year-end.

However, the airline cautioned that the aviation sector was “unlikely to see any swift recovery”, even if the global economy picked up.

To meet the challenges, Swiss reduced frequencies on certain intercontinental routes last year.

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