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  "documentTitle": "2025 Annual Report",
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  "notes": "Page from Lufthansa Group Annual Report 2025, specifically focusing on the Passenger Airlines business segment (SWISS).",
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      "text": "Revenue stable year-on-year, Adjusted EBIT down by 25% to EUR 600m",
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      "text": "SWISS and the Swiss railway company SBB further expanded the partnership that began in 2019 to develop train and aircraft links, adding St. Gallen, Constance and Locarno as destinations to the SWISS Air Rail network. This move increases the SWISS Air Rail network to a total of 24 destinations in Switzerland, Germany and Austria.",
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      "text": "Adjusted EBIT at SWISS fell by 25% to EUR 600m in the 2025 financial year (previous year: EUR 801m), primarily due to higher fees and charges and staff costs. Weaker demand on routes to North America and bottlenecks in the availability of aircraft and engines also had an adverse impact. The Adjusted EBIT margin declined by 3.1 percentage points to 9.3% (previous year: 12.4%). EBIT decreased year-on-year by 23% to EUR 630m (previous year: EUR 815m).",
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      "text": "Traffic higher in financial year 2025. In the 2025 financial year, the number of passengers carried by SWISS rose by 2% to 21.5 million (previous year: 21.1 million). Capacity increased by 3% year-on-year. The number of flights rose by 1% compared with the previous year. Sales increased by 2%. At 83.0%, the passenger load factor was 1.0 percentage point lower than in the previous year (2024: 84.0%). Yields fell by 0.3%. Traffic revenue were around the previous year’s level at EUR 5,873m (previous year: EUR 5,853m).",
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      "text": "tious CO2 targets for the airline industry. SWISS also stepped up its partnership with Kühne+Nagel to assist with scaling synthetic fuels from Synhelion. Kühne+Nagel will buy Synhelion fuel from SWISS for its freight shipments with Swiss WorldCargo for five years starting in 2027.",
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      "text": "In the reporting period, revenue at SWISS was EUR 6,481m, roughly equal to the previous year (previous year: EUR 6,472m). The cargo business contributed around 8% to SWISS' total revenue. Operating income of EUR 6,767m was 1% up on the previous year (previous year: EUR 6,724m). Operating expenses increased by 4% to EUR 6,168m (previous year: EUR 5,923m). The cost of materials and services climbed by 2% (EUR +88m), mainly as a result of higher fees and charges (EUR +92m). Staff costs were 8% (EUR +98m) higher than in the previous year.",
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