Swiss International Air Lines 2011 profits decline

Swiss International Air Lines recently announced its operating results for 2011 and appeared downcast at the outcome.

Lufthansa-run Swiss International Air Lines reported a 17 percent decline in its operating profit last year because of a slump in business and growing fuel costs.

Providing details about its operational results, the airline stated that its operating profit was $330 million. The decline was though substantial when compared to 2010. The airline cited 87 percent y-o-y fall in the fourth-quarter operating profit.

Harry Hohmeister, CEO of Swiss International Air Lines, said that in view of the present situation there was little prospect of any improvement currently, and that Swiss flights will continue to make losses because of soaring fuel costs.

Hohmeister said that the airline will be offset losses only when Swiss International Air Lines increases its own fuel surcharges. The airline will also be reviewing fare increases.