Zurich Airport Reports Record First-Half Results for 2024 Amid Strong Demand Across All Segments

Zurich Airport Ltd. has reported its best half-year performance ever, with a consolidated result of CHF 151.8 million for the first half of 2024, reflecting strong growth across all business segments.

Robust Financial Performance

In the first half of 2024, Zurich Airport Ltd. generated total revenue of CHF 631.1 million, a 9% increase compared to 2023 and 107% of the revenue recorded in the first half of 2019. Aviation revenue surged by 13% to CHF 313.5 million, while non-aviation revenue climbed 7% to CHF 317.6 million. Operating expenses rose by 12% to CHF 284.4 million.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) also saw a 7% increase, reaching CHF 346.8 million, up 14% compared to the first half of 2019. The positive consolidated result of CHF 151.8 million surpassed the previous best half-year result from 2019, which stood at CHF 143.4 million.

Passenger and Cargo Traffic

Passenger numbers continued to recover strongly, with 14.5 million passengers using Zurich Airport in the first half of 2024, marking an 11% increase over the previous year and reaching 97% of 2019 levels. On peak days, passenger numbers exceeded 100,000. The airport also handled 215,299 tons of freight, a 15% increase over 2023 and 95% of 2019 figures. The summer 2024 timetable featured flights to 200 destinations from Zurich, served by 62 airlines.

Growth in Commercial and Real Estate Revenue

Higher passenger volumes positively impacted commercial revenue, which grew by 5% to CHF 133.8 million. Real estate revenue reached a new all-time high of CHF 98.2 million, up 1% from the previous year. The Circle, Zurich Airport’s business and service center, continued to attract successful national and international companies, with occupancy rates exceeding 90%.

Investments and Major Projects

Zurich Airport Ltd. invested CHF 275.4 million in the first half of 2024, with significant projects including the development of landside passenger zones and the completion of a new baggage sorting system. The airport also made progress on the preliminary project for the new Dock A, set for completion by the end of 2024, and received planning permission for a crucial taxiway around runway 28, enhancing safety by reducing runway crossings.

International Ventures

Zurich Airport’s international business grew by 20% in the first half of 2024, generating CHF 49 million in revenue. Key projects include the construction of a new airport in Noida, India, and the operation of the Natal airport in Brazil. The Iquique airport terminal in Chile was also completed, with government acceptance expected in late summer 2024.

Outlook for 2024

Zurich Airport Ltd. anticipates continued growth in 2024, with approximately 31 million passengers expected to pass through its gates by year-end. The airport remains focused on improving punctuality and contributing to sustainable, high-quality mobility for Switzerland through ongoing investments and innovation.