Swiss plane at Geneva airport, October 2009

Zurich, Switzerland (GenevaLunch) – Swiss, the airpline, has reported a CHF113 million operating profit in the first nine months of 2009, a decline of 70 percent over last year, the company announced 29 October. For the third quarter, operating profits were positive, too, at CHF47m. Fewer people are flying first and business class, and competition is putting pressure on prices, reducing yields overall.

Swiss carried more passengers, 10.3 million of them, or 1.3 percent more than in the same period last year, but its freight business declined considerably, the company says.

Its policy of cutting costs is bearing fruit and has made the difference in extremely adverse economic conditions. The company says it will post an overall profit for 2009, and that the situation is worse for other airlines. “If we compare ourselves with our competitors, Swiss has achieved a good result,” says chief executive officer Harry Hohmeister.

Links to other sites: Le Temps, NZZ, TSR

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