SWISS reports a first-half operating result of CHF 195 million

Swiss International Air Lines (SWISS) achieved an operating result (adjusted EBIT) of CHF 195.1 million for the first six months of 2025. The result represents a decline of some 26 percent on the CHF 264.2 million of the prior-year period. Total first-half revenues amounted to CHF 2.69 billion, virtually unchanged from their prior-year level of CHF 2.68 billion.

Challenges outweigh operational improvements

“Our 2025 first-half result is a solid one, but is below our expectations,” comments SWISS Chief Financial Officer Dennis Weber. “We are currently facing a challenging market environment that is feeling the effects of the present trade and geopolitical tensions. Rising costs – in areas such as personnel, charges and fees – also tangibly reduced our first-half profitability. And our earnings for the period were further depressed by structural limitations, especially our continuing shortages of aircraft, engines and cockpit personnel.”

Fuel prices showed advantageous trends in the first-half period. And SWISS also delivered a strong performance in its flight operations with some 72.4 percent of all flights departing on time, an improvement of 3.9 percentage points on the same period last year. Schedule stability remained consistently high, too, at 97.6 percent. The company was thus able to largely withstand the various international crises in the first-half period and the numerous airspace closures, flight reroutings and service cancellations resulting therefrom.

Despite the challenging business and operating parameters, SWISS continued to make targeted further improvements to its customer experience throughout the first-half period. More aircraft of the Airbus A320neo family were added to the aircraft fleet; and new Economy and Premium Economy Class services were adopted for long-haul flights. All these actions helped further consolidate the company’s positioning as a premium airline.

Decline in earnings for the second-quarter period

SWISS saw a further year-on-year decline in its 2025 quarterly earnings for the busier second-quarter period. Adjusted EBIT for April to June 2025 amounted to CHF 191.7 million, a decline of some 18 percent from the prior-year period (Q2 2024: CHF 233.4 million). Total second-quarter revenues amounted to CHF 1.47 billion, 1.2 percent below their prior-year level (Q2 2024: CHF 1.49 billion).

Slight increase in first-half passenger volumes

SWISS transported some 8.5 million passengers in the first six months of 2025, a slight 0.1-percent increase on the same period last year. Over 70,000 flights were operated in the period, up 1.8 percent year-on-year. Total first-half capacity, measured in available seat-kilometers (ASK), was raised 2.7 percent; and total traffic volume, measured in revenue passenger-kilometers (RPK), was up 0.4 percent. Systemwide seat load factor for the period amounted to 80.0 percent, down 1.8 percentage points on January-to-June 2024.

Weaker transatlantic business; action package in response

SWISS expects to feel continued pressures on its earnings in the second half of this year. The transatlantic business has seen a decline in demand for non-premium-class travel which is putting direct pressure on yields. The cargo business continues to be affected by global economic developments, which have recently shown less momentum. In the first quarter of the year, shipments that had been brought forward due to trade conflicts had still provided some support. Cost pressures, particularly in the areas of air traffic control charges and personnel expense, will also persist. And the present capacity shortages show no signs of short-term easing. SWISS has compiled a comprehensive package of actions in response to these likely developments. These include an agreement with its social partner Aeropers that should raise the availability of cockpit personnel. The company will also continue to work selectively with wet-lease partners to stabilize its short-haul capacities and thereby help avoid cancellations of long-haul flights.

Targeted investments in stability, product quality and innovation

“We must continue to work hard to hold our own in an increasingly challenging environment,” asserts SWISS Chief Executive Officer Jens Fehlinger. “The present global instabilities are clearly making their mark on the market environment. Which makes it all the more difficult to see our Zurich hub base losing its ability to compete, owing in particular to its rising charges and fees and to the delays being suffered as a result of capacity shortages in air traffic control.” Fehlinger continues: ”In response, we will continue to practice cost discipline. But we will also continue to make targeted investments in our stability, our product quality and our innovation. I am delighted that our customers will come to increasingly see and feel the fruits of our investments in the months ahead. And in delivering these, we will be able to live up even better to our promise to our guests of a truly premium travel experience, both in the air and on the ground.”

SWISS will receive and put into service two new Airbus A350 aircraft in the second half of 2025. The new twinjets will be delivered complete with the new SWISS Senses cabin, which will offer a tangibly enhanced long-haul air travel experience to passengers in all seating classes. SWISS customers can also look forward to further-refined inflight culinary offers and to new digital services in the second half of this year.

“Despite the challenging environment, we continue to make targeted investments in our future,” CEO Fehlinger confirms. “Quality and stability remain the central planks of everything we do. But we must also clearly say that the present outlook for the second half of this year and for 2026 gives us cause for caution. Which makes it all the more essential that we continue to pursue our declared strategy and create the conditions we need for our further profitable growth, with clearly defined priorities and with high agility.”

--- END press release SWISS reports a first-half operating result of CHF 195 million ---

  Swiss International Air Lines AG (company entry)

  SWISS erzielt im ersten Halbjahr operatives Ergebnis von 195 Millionen Schweizer Franken (news article in german on swiss-press.com)