2023 2022 Change in %
Revenue €m 5,905 4,805 23
Operating income €m 6,222 4,977 25
Operating expenses €m 5,413 4,501 20
Adjusted EBITDA €m 1,227 923 33
Adjusted EBIT €m 809 476 70
EBIT €m 797 472 69
Adjusted EBIT margin % 13.7 9.9 3.8 pts
Employees as of 31 Dec Number 9,909 9,045 10
Average number of employees Number 9,481 8,730 9
Number of flights Number 149,392 123,118 21
Passengers thousands 19,295 15,050 28
Available seat-kilometres million 55,327 44,423 25
Revenue seat kilometres million 46,719 35,467 32
Passenger load factor % 84.4 79.8 4.6 pts
1) Including Edelweiss Air.

SWISS is the leading airline in Switzerland. With its sister company Edelweiss Air, which specialises in tourist flights, it offers its customers a first-class product and a global route network.

The Swiss WorldCargo division uses the belly capacities of SWISS aircraft to offer comprehensive airport-to-airport services for high-value and sensitive goods worldwide.

Fleet modernisation continues

SWISS continued to drive its fleet modernisation in financial year 2023, putting its third and fourth Airbus A321neo into service. SWISS now has ten aircraft from the A320neo family. A total of 25 aircraft from the A320neo family are to be integrated into its fleet. The modern aircraft make an important contribution to environmental efficiency at SWISS.

The SWISS fleet, including Edelweiss Air, consisted of 109 aircraft at the end of the reporting year.

SWISS invests in passenger travel experience

SWISS strengthened its premium positioning in the growing tourism-related leisure travel segment and has fitted its four A340-300 aircraft with Premium Economy Class in the reporting year.
Two out of the three aircraft types in SWISS’ long-haul fleet thus now include this new travel class.

SWISS also presented SWISS Senses, the most extensive cabin refit in its company history. Passengers in all travel classes will be offered a completely new, more personal travel experience from 2025. The new Airbus A350-900s on order for SWISS will be delivered with the new cabin configuration.

SWISS has also improved its passengers’ travel experience by introducing free internet for the use of instant messaging services on all long-haul flights. The new service is available in all travel classes during the entire flight and with unlimited data.

In addition, SWISS opened a completely refurbished lounge in Terminal D at Zurich Airport for passengers travelling to destinations outside the Schengen area.

Efforts to make flying sustainable given top priority

SWISS continued to expand its sustainability offering in financial year 2023. After a successful test phase in Scandinavia, SWISS rolled out its “green fares” throughout Europe. This fare includes offsets for the carbon emissions caused by the flight in the price.

On domestic flights between Zurich and Geneva, SWISS has only offered fares that already include offsets for the carbon emissions caused by the flight in the price since September 2023.

SWISS has also equipped more aircraft with the novel AeroSHARK technology. Eleven of the twelve Boeing 777 aircraft already have the drag-reduction foil.
↗ Combined non-financial declaration, Climate protection

Furthermore, in cooperation with the Swiss Federal Railways (SBB), SWISS has expanded its intermodal services. The SWISS Air Rail route network from Geneva Airport was extended. SWISS passengers travelling by rail from Lausanne, Freiburg or Bern now have a choice of a connection to Zurich or Geneva airports.

Heike Birlenbach is new Chief Commercial Officer of SWISS

Heike Birlenbach became the new Chief Commercial Officer of SWISS on 1 January 2024. She was previously Head of Customer Experience for the Lufthansa Group airlines. Heike Birlenbach succeeds Tamur Goudarzi Pour, who as of 1 January 2024 is responsible for Customer Experience in the Lufthansa Group.

Important agreements signed with social partners

SWISS signed new collective agreements for the pilots and cabin crew and adjusted wages for ground staff in the reporting year. ↗ Employees

Capacity and passenger numbers rising significantly

In the 2023 financial year, the number of passengers carried by SWISS rose 28% to 19.3 million (previous year: 15.0 million). Capacity was expanded by 25% year-on-year and was thus at 87% of its 2019 pre-crisis level. The number of flights rose by 21% compared with the previous year. Sales were up by 32%; at 84.4%, the passenger load factor was 4.6 percentage points higher than the previous year’s level (previous year: 79.8%). Average yields increased by 0.6% Traffic revenue of EUR 5,376m were 36% higher than in the previous year (previous year: EUR 3,965m).

Revenue up by 23% year-on-year, Adjusted EBIT of EUR 809m a new record

In the reporting period, increased flight operations pushed revenue at SWISS up by 23% year-on-year to EUR 5,905m (previous year: EUR 4,805m). The cargo business contributed around 8% to SWISS’ total revenue. Operating income of EUR 6,222m was 25% up on the previous year (previous year: EUR 4,977m).

Operating expenses increased by 20% to EUR 5,413m (previous year: EUR 4,501m). The cost of materials and services climbed by 22%, mainly as a result of increased fuel expenses (+14%) due to volumes, higher fees and charges (+19%) and higher charter/leasing expenses (+73%). Staff costs were 19% higher than in the previous year.

SWISS reported record earnings in financial year 2023. Adjusted EBIT improved by 70%, to EUR 809m (previous year: EUR 476m). The Adjusted EBIT margin was 13.7% (previous year: 9.9%). EBIT improved by 69%, to EUR 797m (previous year: EUR 472m).

Lufthansa Group Annual Report 2023