(MENAFN- Swissinfo) Although Swiss International Air Lines (SWISS) achieved higher revenue at the start of the year, it suffered a dip in profits.
This content was published on April 30, 2024 - 12:15 2 minutes Keystone-SDA
Operating profit fell to CHF30.7 million ($33.6 million) in the first three months of 2024, the Lufthansa subsidiary announced on Tuesday.
In the previous year, it posted an operating profit of CHF78.4 million after returning to the black for the first time since the pandemic in the first half of 2022.
However, the airline's turnover increased by 8.1% to CHF1.2 billion.
The slump in profits was due, among other things, to lower average revenues, weaker cargo business and increased costs, particularly in personnel, SWISS said.
As expected, the exceptional market conditions the industry experienced in the immediate aftermath of the pandemic have continued to normalise. Although demand for travel remains high, many airlines have further increased their capacity.
“This has also led to lower average revenues for us than in the previous year. In addition, the cargo business, which benefited from an exceptionally strong tailwind during the coronavirus period, has weakened significantly,” explained CFO Markus Binkert.
Adapted from German by DeepL/kp
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look
here , and if you have feedback on this news story please write to
... .
External Content Your subscription could not be saved. Please try again. Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you. Daily news
Get the most important news from Switzerland in your inbox.
Daily
Email
The SBC Privacy Policy provides additional information on how your data is processed.
I consent to the use of my data for the SWI swissinfo newsletter.
News More Swiss justice minister hopes EU reform will reduce irregular migration
This content was published on Apr 30, 2024 The European Union's (EU) New Pact on Migration and Asylum aims to curb irregular migration within Schengen, Justice Minister Beat Jans said on Tuesday.
Read more: Swiss justice minister hopes EU reform will reduce irregular migration More Swiss initiative wants cannabis to be enshrined in the constitution
This content was published on Apr 30, 2024 A people's initiative launched on Tuesday has called for the legalisation of commercially growing and selling cannabis.
Read more: Swiss initiative wants cannabis to be enshrined in the constitution More Swiss electricity supply outlook positive despite uncertainties
This content was published on Apr 30, 2024 Thanks to well-filled gas stores in Europe and increased availability of French nuclear power, the Swiss Federal Electricity Commission is optimistic.
Read more: Swiss electricity supply outlook positive despite uncertainties More Swiss parliamentary committee favours partial funding of UNRWA
This content was published on Apr 30, 2024 A parliamentary committee has called for partially resuming support for UNRWA – but has imposed conditions.
Read more: Swiss parliamentary committee favours partial funding of UNRWA More Finance minister wants Swiss banks to hold more equity
This content was published on Apr 30, 2024 Finance Minister Karin Keller-Sutter has repeated calls for banks and their holdings in subsidiaries abroad to hold more equity.
Read more: Finance minister wants Swiss banks to hold more equity More Telecoms sector kept Swiss competitions regulator busy in 2023
This content was published on Apr 30, 2024 Last year, the Swiss Competition Commission (COMCO) conducted 27 investigations and initiated 17 preliminary investigations.
Read more: Telecoms sector kept Swiss competitions regulator busy in 2023 More 40,000 signatures against animal testing in Switzerland
This content was published on Apr 29, 2024 Switzerland should do away with“restrictive” animal testing and should become a model for innovative, effective, and pain-free scientific research.
Read more: 40,000 signatures against animal testing in Switzerland More More than 45,000 signatures in favour of federal funding for UNRWA
This content was published on Apr 29, 2024 The Foreign Affairs Committee of the House of Representatives (FAC) is expected to decide on the funding of the UNRWA at the beginning of the week.
Read more: More than 45,000 signatures in favour of federal funding for UNRWA More Number of Swiss prisoners rises 7% in one year
This content was published on Apr 29, 2024 At the end of January 2024, 6,881 men and women were behind bars in Switzerland. Almost 95% of all places were occupied, the highest number since 2014.
Read more: Number of Swiss prisoners rises 7% in one year More Cases of psychological abuse of children increase in Switzerland
This content was published on Apr 29, 2024 The number of cases of child abuse recorded in Swiss paediatric clinics rose to 2,097 in 2023, an all-time high, which is mainly due to improved recording.
Read more: Cases of psychological abuse of children increase in Switzerland
In compliance with the JTI standards
More: SWI swissinfo certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at ... .
MENAFN30042024000210011054ID1108158037