SWISS sees its operating profit fall mid-year

SWISS Airlines saw its adjusted operating profit fall by more than a quarter in the first six months of the year, to CHF195.1 million ($240 million). Caution is called for in the second half of the financial year, the Lufthansa subsidiary said on Thursday. In the first half of the year, operating income remained virtually stable at CHF2.69 billion, as did the number of passengers, at 8.5 million. Over 70,000 flights were operated, 1.8% more than in the previous year. The average load factor declined by 1.8 percentage points to 80%. +Get the most important news from Switzerland in your inbox In the second quarter alone, total operating revenue amounted to CHF1.47 billion, down 1.2% year-on-year. The environment proved difficult, marked by geopolitical and trade tensions. "Rising costs, particularly for personnel and fees, also significantly affected our profitability. Structural constraints, such as persistent shortages of aircraft, engines and pilots, also weighed on our results" ...