Previous post Next post

SWISS reports record profits for 2017

SWISS reports record profits for 2017

Despite the name, SWISS is owned by German group Lufthansa.

Swiss International Air Lines saw an increase in profitability of almost one-third in 2017, the company has reported. The performance is largely due to more efficient and capacious planes.

While total income increased by a more modest 3.2% to CHF4.95 billion ($5.24 billion), pre-tax profits jumped by 31% to CHF561 million. This made the year 2017 one of the best in the company’s history, it wrote in a statement on Thursday.

The gains are primarily due to more efficient practices, it says. Despite carrying out fewer overall flights (14,007 in total, down 4%), SWISS has been using larger planes in both the passenger and cargo business, allowing it to sell more tickets while saving on fuel.

The airline has also replaced part of its Airbus and Avro RJ100 fleet with more efficient Bombardier craft in recent years.

+ Read more about the prospects of SWISS and its main hub Zurich

The parent company of SWISS, German Lufthansa, also announced record net profits for 2017 of CHF2.73 billion, with total sales also up some 12%.

This was due to a rise in ticket prices, as well as the effects of Lufthansa’s 2016 purchase of Brussels Airlines, and the 2017 takeover of bankrupted rival Air Berlin.

Both Lufthansa and SWISS remain more sceptical about 2018, expecting slightly lower profit margins largely due to rising oil prices.

Full story here Are you the author?
About Swissinfo
Swissinfo
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.
Previous post See more for 3) Swiss Markets and News Next post
Tags: ,,

Permanent link to this article: https://snbchf.com/2018/03/swissinfo-swiss-reports-profits-2017/

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.