Zurich Airport achieves record result in the first half of 2024

Zurich Airport achieved the best half-year result in the company’s history in the first half of 2024. Despite challenging conditions in the aviation industry, such as rising operating costs and global uncertainties, Zurich Airport AG was able to generate a consolidated result of CHF 151.8 million. This result marks a significant milestone and underlines the airport’s strong economic recovery and growth potential, which is due to the high demand for air travel and a smart strategic direction.

Passenger numbers at Zurich Airport recovered significantly in the first half of 2024 and are now at 97% of the level of 2019, the year before the COVID-19 pandemic. A total of 14.5 million passengers used the airport, an increase of 11% over the previous year. The volume on peak days was particularly noticeable, with over 100,000 people passing through the airport. This development reflects the growing desire to travel among people who are increasingly relying on air travel again after the pandemic-related restrictions.

The airport’s route network was also expanded in the 2024 summer flight schedule. A total of 200 destinations are served by 62 airlines, which represents a slight increase over the previous year. Cargo volume increased by 15% year-on-year to 215,299 tonnes, which corresponds to 95% of the 2019 level and underlines the airport’s importance as a major cargo location.

The high passenger volume not only contributed to aviation revenues, but also had a positive impact on the airport’s commercial and real estate business. Commercial revenues rose by 5% to CHF 133.8 million, while real estate revenues reached a new high of CHF 98.2 million, an increase of 1% over the previous year. Of particular note is the development of the “Circle”, a modern business and service center that has further established itself as a popular location for national and international companies. Over 90% of the space has already been rented, which clearly shows the attractiveness of the airport area as a business location.

Investing in the future

In order to continue to meet the high demands of passengers and business partners in the future, Flughafen Zürich AG invested heavily in the first half of 2024. A total of CHF 275.4 million was invested in property, plant and equipment and projects, of which CHF 117 million was at the Zurich site. The most important projects include the further development of the landside passenger areas, which is scheduled to be completed by autumn 2027, and the replacement of the old baggage sorting system, which will be completed by 2027.

Another highlight was the granting of planning approval for “taxiing on runway 28”, an important infrastructure project that significantly increases safety at Zurich Airport by avoiding over 100,000 runway crossings per year. The extension of runways 28 and 32, which was approved by almost 62% of Zurich voters, also represents an important contribution to increasing flight safety.

International engagement

In addition to the successes at its home base, Flughafen Zürich AG has also continued to develop internationally. Revenue from foreign business rose by 20% to CHF 49 million in the first half of the year. Particularly noteworthy is the project to build a new airport in Noida, near Delhi, India, which is in an advanced construction phase and is scheduled to open at the end of April 2025. The company has also made important progress in Brazil and Chile, for example with the takeover of the international airport in Natal and the completion of the terminal construction in Iquique.

The outlook for the full year 2024 is promising. Zurich Airport is expected to handle around 31 million passengers. Punctuality, an important factor for passenger satisfaction, was improved over the summer months and continues to be the focus of numerous measures that are being implemented together with all relevant partners.