According to Swiss, air fares no longer fall below pre-pandemic levels
Published: Thursday, Nov 2nd 2023, 09:50
Updated At: Friday, Nov 3rd 2023, 00:54
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For around 400 francs to New York or Montréal, the airline Swiss is once again advertising absolute bargains on posters. According to CFO Markus Binkert, prices will nevertheless remain higher overall than before the pandemic.
The current advertising campaign is not intended to draw attention to the sometimes low prices, said Binkert on Thursday at a press conference following the quarterly figures. Instead, he said, the company wanted to inform customers that it once again offers many destinations in North America with corresponding direct flights.
After all, the route network had to be cut back during the pandemic. But there is now a great desire to travel again, especially among tourists. While business travel is only two-thirds of what it was before the Corona pandemic, demand from private individuals is currently extremely high.
Accordingly, the industry has ramped up its offerings again and a battle has broken out between the airlines. Supply and demand are therefore playing a role, which means that lower booking prices - such as CHF 400 for a flight to North America - are once again possible.
"But the time of bargain prices is over," Binkert emphasized. "And that's a good thing." Flying will remain more expensive in the medium term than it was before the crisis.
Overall, the manager made a visibly relaxed impression. No wonder: his company was still fighting for survival in 2020, as he himself emphasized. In 2021, Swiss would then have to undergo a tough restructuring. "I am therefore pleased that we can now already report a record result again."
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