With its fuel hedges partly offsetting substantially higher jet fuel prices, SWISS achieved a solid result for the first half of 2008. On total operating income that was a tangible improvement on the same period last year, Swiss International Air Lines (Group) reports earnings before interest and taxes (EBIT) of CHF 262 million for the first six months (prior-year period: CHF 311 million).

"Strong efforts from our sales teams helped keep our flights well utilized in both passenger and cargo terms," comments CEO Christoph Franz. "But the increases in our fuel surcharges did not translate into higher yields to the extent required. Despite this, however, and despite the year-on-year decline, we have posted a solid EBIT result for the first half of 2008 that lies within our expectations."

"We do see storm clouds on the horizon, though," Franz continues. "The record price of jet fuel and the international financial crisis, which is now having a growing impact on the business economies in some of our foreign markets, are a major burden that poses a particular challenge to the entire air transport sector. But SWISS is not unprepared for the turbulence ahead. Our company today is solid to the core. And we will continue to make the strategic investments we have planned in our fleet and our product, to ensure that we can further maintain our market position."