SWISS

SWISS is Switzerland’s leading airline. With its sister company Edelweiss Air, which specialises in leisure flights, it offers its customers high-quality products and services, in combination with 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.

Modernisation of fleet continues apace

SWISS continued its fleet modernisation in the 2024 financial year, integrating two A320neos. As things currently stand, twelve (eight A320neos and four A321neos) of the planned total of 25 aircraft of the A320neo family are now in service at SWISS. These modern aircraft make a material contribution to improving environmental efficiency at SWISS.

The SWISS fleet, including Edelweiss Air, consisted of 112 aircraft at the end of the reporting year.

Travel experience for passengers to be further optimised

SWISS made further improvements to its passengers’ travel experience in financial year 2024 and began the gradual introduction of broadband internet on its complete short-haul fleet. As on long-haul routes, SWISS will offer its passengers on European flights free internet access for the use of chat and messenger services.

SWISS has also expanded the options for preselecting Business Class meals on short-haul flights. This preselection option is free and covers hot or cold dishes depending on the destination, which change every three months. It gives passengers more choice while reducing food and packaging waste by more specific loading.

SWISS renews existing partnerships

SWISS and Swiss railways (SBB) have decided to continue the partnership they started in 2019 indefinitely. The aim is to further optimise links between rail and plane. The partners have also expanded the SWISS Air Rail network with attractive destinations in Chur, Davos, Klosters and St. Moritz in the canton of Grisons. The SWISS Air Rail network now includes 21 destinations.

The long-standing partnership between SWISS and Helvetic Airways was also renewed for another five years and expanded. Under a wet lease agreement, SWISS will use up to 15 aircraft from Helvetic Airways throughout its European route network. This cooperation enables SWISS to cover operating peaks and use the smaller Helvetic aircraft to fly to destinations for which its own aircraft would be too big.

Cooperation and more sustainable flying measures expanded

SWISS and the Lufthansa Group entered into a strategic partnership with the Swiss company Climeworks in March 2024. The aim is to jointly scale up innovative technology to remove CO₂ from the air. This partnership supplements the long-standing commitment of SWISS and the Lufthansa Group to innovative technologies to reduce carbon emissions from flight operations. The parties signed a supply agreement until 2030 to reduce flight-related carbon emissions and also agreed on additional purchasing rights.

Furthermore, SWISS fitted AeroSHARK to its last remaining Boeing 777 aircraft in May 2024. This means the entire Boeing 777 fleet of twelve aircraft is now in operation using this innovative surface technology. AeroSHARK reduces in-flight air resistance, which in turn results in lower kerosene consumption and carbon emissions. ↗ Combined non-financial declaration.

New appointments to SWISS Executive Board

SWISS restructured its Executive Board in the 2024 financial year.

Heike Birlenbach was appointed Chief Commercial Officer as of 1 January 2024. She had previously held the position of Senior Vice President Customer Experience at Lufthansa Group Airlines.

Oliver Buchholfer has been the airline’s Chief Operating Officer since 1 May 2024. He previously led the operating division at SWISS. He continues to fly for the airline as an Airbus A330 captain.

Dennis Weber has also been the new Chief Financial Officer at SWISS since 1 May 2024. He was previously Head of Investor Relations for the Lufthansa Group.

Jens Fehlinger took over as Chief Executive Officer of SWISS on 1 October 2024. He was previously Co-Managing Director of Lufthansa CityLine and developed the new Lufthansa City Airlines concurrently as managing director. Jens Fehlinger follows Dieter Vranckx, who joined the Lufthansa Group’s Executive Board and the SWISS administrative board on 1 July 2024.

Traffic significantly higher in financial year 2024

In the 2024 financial year, the number of passengers carried by SWISS rose by 9% to 21.1 million (previous year: 19.3 million). Capacity was expanded by 10% year-on-year and was thus at 96% of its 2019 pre-crisis level. The number of flights was 9% higher than the previous year. Sales increased by 10%. The passenger load factor was 0.4 percentage points lower than the previous year’s level, at 84.0% (previous year: 84.4%). Yields fell by 1.3%. Traffic revenue of EUR 5,853m was 9% higher than in the previous year (previous year: EUR 5,376m).

Revenue up by 10%, Adjusted EBIT of EUR 801m almost matches the previous year’s figure

In the reporting period, increased flight operations pushed revenue at SWISS up by 10% year-on-year to EUR 6,472m (previous year: EUR 5,905m). The cargo business contributed around 8% to SWISS’ total revenue. Operating income of EUR 6,724m was 8% up on the previous year (previous year: EUR 6,222m).

Operating expenses increased by 9% to EUR 5,923m (previous year: EUR 5,413m). The cost of materials and services climbed by 11%, mainly as a result of higher fees and charges (+13%) and external MRO services (+20%). Staff costs were 10% higher than in the previous year.

In financial year 2024, SWISS’ Adjusted EBIT was roughly stable year-on-year at EUR 801m (previous year: EUR 809m). SWISS increased earnings significantly year on year in the second half of 2024. The Adjusted EBIT margin declined by 1.3 percentage points to 12.4% (previous year: 13.7%) in the reporting year. EBIT improved by 2%, to EUR 815m (previous year: EUR 797m).