Swiss sees stronger cargo traffic

DESPITE the strong Swiss franc, renewed fuel price hikes and low yields, Swiss WorldCargo posted a traffic growth of 9.2 per cent in cargo-tonne-kilometre terms during the first quarter of 2011.

Cargo load factor (by volume) amounted to 81.1 per cent, compared to 83.1 per cent for the first quarter of 2010.

Its parent, Swiss International Air Lines (Group), achieved an operating profit of CHF16 million (US$18.26 million) for the first three months of 2011. The result is an improvement on the CHF10 million ($11.4 million) operating loss sustained for the first quarter of the previous year, owing largely to the financial crisis.

“The headwinds we are facing have grown stronger since the beginning of the year, and the current global uncertainties are likely to continue to depress our business performance for some time to come,” Swiss chief executive officer Harry Hohmeister said. “We have, however, taken numerous actions to ensure that, despite the present challenges, we can maintain our operating results at their favourable prior-year levels.”