The Swiss airline Swiss has started 2025 with a positive operating result. The company announced that it generated a profit of 3 million Swiss francs in the first quarter.
However, this figure is below the result for the same quarter last year, which amounted to 31 million Swiss francs. Swiss cites the so-called Easter effect as the main reason for this decline, as the traditionally busy Easter holiday fell in the second quarter this year. Increased costs also weighed on the result. On the other hand, strong cargo business and lower fuel prices compared to the previous year had a positive impact. Swiss emphasizes its intensive preparations for the upcoming peak travel season in the summer, with stability and customer satisfaction as its top priorities.
Decline in earnings due to calendar effect and rising expenses
Swiss's operating revenues for the period from January to March amounted to 1,22 billion Swiss francs, representing an increase of two percent compared to the same quarter last year (1,19 billion Swiss francs). Chief Financial Officer Dennis Weber stated that the result was in line with the company's expectations. The main factor for the decline in earnings was the calendar effect, as Easter fell in the first quarter last year, thus leading to increased demand. The postponement of the Easter weekend to April this year shifted travel volumes accordingly to the second quarter, thus significantly impacting the current figures.
Although demand remained high overall in the first quarter, the expansion of flight capacity led to lower average aircraft utilization. Furthermore, various cost increases weighed on earnings. Personnel expenses were higher than the previous year due to new hires and general wage increases. The increase in fees was particularly significant, exceeding capacity growth in the air traffic control area. However, the positive development in the cargo business and lower fuel prices partially offset these negative effects.
Uncertainties in the outlook despite expected earnings increase in the second quarter
Developments in the coming, seasonally stronger quarters will be crucial for Swiss's overall annual results. Chief Financial Officer Weber expressed confidence in the business performance over the coming months and forecast a significantly higher result in the second quarter compared to the first. However, he also pointed to increased risks. The economic impact of the current global trade conflicts, particularly on demand for international travel, is currently difficult to estimate. While the booking situation for the US business continues to appear solid, the unforeseeable changes in the political and economic environment are creating considerable uncertainty. This requires Swiss to be highly flexible and proactive in order to seize opportunities while being prepared for potential market fluctuations.
Passenger numbers stable, capacity utilization slightly lower – Improved punctuality and flight schedule stability
In the first quarter of 2025, Swiss carried a total of approximately 3,7 million passengers, exactly the same as the same period last year. The number of flights operated increased by three percent to just under 32.000. While available seat kilometers increased by 6,4 percent, revenue seat kilometers increased by 3,0 percent. This resulted in an average seat load factor of 78,1 percent, 2,6 percentage points below the first quarter of 2024.
Encouragingly, Swiss was able to achieve significant improvements in operational performance. Punctuality rose to approximately 79 percent, representing an improvement of almost four percentage points compared to the previous year. This puts Swiss well on track to exceed its self-imposed annual target of 70 percent punctuality. Schedule stability also reached a high level of just over 98 percent, reducing short-term schedule changes to a minimum.
Focus on reliable summer operations and investments in the travel experience
With the peak summer travel season approaching, Swiss is placing increased emphasis on stability, punctuality, and customer satisfaction. CEO Jens Fehlinger emphasized the goal of continuing to impress with reliability this year, especially during the peak summer months. To ensure this, Swiss has been investing extensively for months in operational stability and improving the travel experience for its passengers.
A key component of these efforts is annual investment of approximately one billion Swiss francs, which is being channeled into innovations in all travel classes. These include, among other things, the modernization of the cabin interior and the further development of the service concept. Another important milestone is the launch of the first Airbus A350-900, including the new "Swiss Senses" cabin concept, planned for the second half of the year. With this investment, Swiss is underscoring its commitment to comfort, quality, and innovation in air travel.
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