SWISS reports first-half operating loss of CHF 398 million

As a result of the still-dynamic pandemic development and the resulting major impediments to travel activity worldwide, SWISS incurred an operating loss of CHF 398.2 million for the first six months of 2021 (H1 2020: CHF 266.4 million). Strict cost and cash management combined with consistent network and capacity control helped keep the loss within reasonable bounds, and a positive operating cash flow was generated in the second-quarter period. Total first-half revenues amounted to CHF 659.3 million, a 43.5% decline from their prior-year level (H1 2020: CHF 1.17 billion). As last year, the second quarter brought a slight upturn in business volumes as the summer travel season approached. But the situation remains extremely tense. With a view to restoring its investment capability and maintaining its competitive edge, SWISS has embarked on a comprehensive restructuring and transformation that extend to reductions in both its personnel numbers and its aircraft fleet.