SWISS reports CHF 84.1m in Q1 2020 operating loss

SWISS has reported an operating loss of CHF 84.1 million in the first quarter 2020, compared to a CHF 48.3m profit for the same period in 2019, the company said.

First-quarter revenues also declined to CHF 923 million, some 20% below the Q1 2019 revenues of CHF 1.15 billion.

SWISS transported 21.4% fewer passengers in the first three months of 2020 than it had in the same period last year.

First-quarter systemwide seat load factor amounted to 73.3%, a decline of 5.3 percentage points. No forecasts can currently be made of results for 2020 as a whole, in view of the still highly unpredictable nature of the present developments.

SWISS´s first-quarter financial results are mirrored in the passenger volumes for the period. The company carried 2,991,974 travellers in the first three months of 2020, a 21.4-per-cent decline on the prior-year period. A total of 27,270 flights were operated, 19.2 per cent fewer than in the first quarter of 2019. SWISS´s systemwide production, measured in available seat-kilometres (ASK), was 15.9 per cent down on its prior-year level, while its total traffic volume, measured in revenue passenger-kilometres (RPK), showed a 21.5-per-cent decline. Systemwide seat load factor fell 5.3 percentage points to 73.3 per cent.

From 23 March to 31 May SWISS maintained a minimum timetable of scheduled services comprising selected routes within Europe from Zurich and Geneva and a thrice-weekly service between Zurich and New York/Newark in the USA. With travel restrictions now being eased within Europe, the company will be gradually expanding its range of scheduled services to some 15 to 20% of its originally planned programme from June onwards.

SWISS has expanded its air cargo services through its Swiss WorldCargo division, in response to the present high demand for airfreight services. Some 375 cargo-only flights have been performed since the end of March, with a particular emphasis on helping to maintain the supply chains of humanitarian and medical goods from and to Switzerland. Three of SWISS´s 12 Boeing 777 aircraft have also had their Economy Class seating removed to provide more main-deck cargo capacity.

SWISS conducted numerous repatriation flights in March and April on behalf of the Swiss Federal Department of Foreign Affairs. The flights brought Swiss nationals and further Swiss residents back to Switzerland from remote regions all over the world.