SWISS achieves strong operating result in first nine months of 2024 amidst rising costs and yield pressures

Swiss International Air Lines (SWISS) reported a robust Adjusted EBIT of CHF 505 million for the first nine months of 2024, despite an 18% decrease from the record levels of 2023. Revenue increased by 5.7% year-over-year, reaching CHF 4.2 billion, driven by sustained summer travel demand.

The third quarter alone brought in CHF 240.8 million in Adjusted EBIT, down 13.3% from the previous year, yet reflecting the busiest period for the airline.

Key Highlights:

• Passenger Growth: SWISS transported 13.7 million passengers in the first nine months of 2024, marking a 10.5% increase from the previous year, with a seat load factor of 84.5%.
• Cargo Success: Strong demand from Asia and e-commerce offset stagnation in other regions, adding significantly to SWISS’s Q3 results.
• Challenges: Rising operational costs, personnel expenses, geopolitical tensions, and congested airspace impacted overall financial performance.

SWISS expects continued positive earnings for 2024, supported by holiday travel demand. However, CEO Jens Fehlinger noted fare pressures in long-haul segments and emphasised a focus on punctuality and customer satisfaction for sustainable growth. Despite a challenging market, SWISS’s full-year outlook remains solid, though it is unlikely to match the record-breaking 2023 levels.