SWISS posted a sharply improved first-quarter 2026 operating result of CHF 30 million, up from CHF 3.3 million a year earlier, while revenues remained stable at CHF 1.22 billion. The performance was driven largely by a temporary surge in demand—particularly on Asian routes—linked to geopolitical developments in the Middle East, which increased yields.
However, the airline cautioned that this strong result masks rising cost pressures, especially jet fuel prices, which have nearly doubled since the onset of the Iran-related conflict and are expected to significantly impact second-quarter earnings.
Operationally, SWISS carried just under 3.7 million passengers, with reduced flight capacity due to aircraft engine shortages and limited cockpit crew availability. Despite this, improved demand led to higher load factors and better utilization of available capacity.
Looking ahead, SWISS expects continued volatility but notes robust short-term booking trends, particularly for Asia and premium cabins. The airline is maintaining its focus on cost-cutting, efficiency improvements, and structural reforms to remain competitive amid rising costs and operational challenges.