SWISS reports first-quarter operating loss of CHF -201 million

Despite comprehensive cost savings, SWISS incurred an operating loss of CHF -201 million for the first three months of 2021 (Q1 2020: CHF -84.1 million). As a result of the continuing extensive travel restrictions, SWISS's total first-quarter revenues of CHF 299.6 million were 67.5 per cent down on their prior-year level. Demand for cargo services remained high, but could only slightly offset the passenger revenue decline. Despite the sizeable first-quarter loss, the company's liquidity remains secured. In view of the medium-term structural decline in demand, however, SWISS must now consider a substantial resizing of its business and operations, to maintain its investment capability and its competitive credentials. The company is further demanding stable, unified and mobility-promoting parameters to help revive travel activities.