Swissair Collapse Hurts Zurich Airport

Aug 28, 2002

The collapse of Switzerland's national airline, Swissair, dented figures at Zurich Airport which has posted a first half loss of CHF1.8 million (USD$1.2 million). Operating profits fell by 65 percent to CHF26 million.

The airport, which serves the country's financial center, said that the loss of 20 short and long haul aircraft operated by the failed carrier led to a 23.6 percent drop in passenger numbers. In the first six months of this year 8.43 million passengers used the airport.

Higher operating costs were also another factor in the downturn. In 2001, Zurich made a first half profit of CHF41.5 million.

Swissair's successor, Swiss International Air Lines, which was created from the failed carrier's regional subsidiary Crossair, operates a much smaller fleet and has yet to build up long haul services. There was a consequential drop in the airport's passenger traffic and sales.

Despite its current problems, airport management company Unique says it expects Zurich to show a profit on the full year.

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