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Swiss flies in the summer quarter more profit

the airline Swiss the price war in Europe, as well as the higher costs for fuel and maintenance suggested in the first nine months of the result. In the profitable summer months, the Lufthansa subsidiary earned, thanks to a tailwind from one-time effects, it was no more.

Overall, sales increased from January to September of 2019, 1 percent to 4.05 billion francs. The adjusted operating profit (Ebit) declined by 11 per cent to 490 million Swiss francs.

compared To the record year of 2018 would be rising fuel costs, which adversely affected the result, wrote the Swiss on Thursday in a Communiqué. In addition, so-called C-Checks) would have driven to work for the first time, due, periodic maintenance (on the modernized fleet of the costs referred to above. Moreover, the demand in the cargo was dropped business and the average prices were, in particular, has shrunk in Europe, traffic more, which have a negative hit on the result.

In the summer quarter, traditionally the strongest of the whole year, flew the Swiss, however, more profit. The Ebit climbed by 8 percent to 244 million Swiss francs, as the Lufthansa subsidiary announced. Sales increased by 2 percent to 1.47 billion francs.

Adherence to annual targets

in addition to the higher passenger turnover have also contributed various one-off effects to the improvement in earnings. "To call for the postponement of the reconstruction of the last two A340 aircraft are here, for example," wrote the Swiss. This would now be rebuilt in the final quarter, said a spokeswoman on request: The Swiss have decided that the tag is not in the busy summer months, to ensure the stability of the operation. "The good result of the third quarter, we are very pleased. In addition to the higher passenger revenue, we also had to wind back through various one-off effects," said chief financial officer Michael Niggemann in the Communiqué.

The Swiss is seeking a double-digit margin the adjusted operating profit for the full year 2019. "We are aware that this goal remains ambitious." In the first nine months of this margin was 10.9 percent.

investment in the fleet

The Swiss will continue to invest in the fleet. Starting in 2022, the conversion of the A330 to the fleet. The 14 long-haul aircraft of the type to receive a new cabin.

Further adjustments of the fleet was imminent: In the first quarter of 2020, the Swiss will take two additional long-haul aircraft Boeing 777-300ER operation, which she had ordered in may 2018. In addition, at the beginning of next year would eingeflottet the first aircraft of the type Airbus A320neo.

Until the end of 2024, a total integrated 17 aircraft of the type Airbus A320neo, as well as eight aircraft of the type A321neo to its fleet. On the Boeing 777-300ER starting in the spring of 2021, the Premium Economy Class will complement the existing three classes – Economy, Business and First Class.

Lufthansa with a savings program

The Swiss parent Lufthansa for the continued profit loss on in your daughters, Austrian and Brussels Airlines, as well as in the freight business savings program. The group had decided in the case of the daughters in Austria and Belgium, as well as at Lufthansa Cargo against taxes, in order to improve the results, said Lufthansa Chairman and CEO Carsten Spohr.

Austrian Airlines (AUA) in addition to an ongoing efficiency programme to save each year until 2021 90 million euros. To be made related to personnel reduction, to amount to one Insider to be at around 500, the group first of all, there is no information. Also the cost of the since midnight of the current re-strikes of the flight attendants, the be on Thursday and Friday, approximately 1'300 flights, could not yet be quantified, explained a representative of Lufthansa.

adjusted for special effects earnings before interest and taxes (Ebitda) fell despite a slight increase in sales from July to September compared to the same period last year by eight percent to just under 1.3 billion euros. The yield contracted in the seasonally most important quarter of around one and a half percentage points to 12.7 percent.

In the case of the fuel costs, the Airline group is forecasting a further increase in the third quarter for the full year, an increase of 650 million euros to 6.8 billion euros, 100 million more than previously calculated.

(fal/anf/sda/reuters)

Created: 07.11.2019, 11:28 PM

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