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The shortage of qualified personnel also affects the aviation industry. Employees around the world demand higher wages. Strikes paralyze operations. The latest example: All Italian airports were closed on Friday. Swiss had to cancel several flights and rebook passengers. More than 2000 travelers were affected.
But Swiss is also struggling with staff shortages in its country. During the pandemic, airlines have massively laid off their currently missing employees. That’s why Swiss has been offering its employees money for some time if they give up their vacation days.
Because the number of passengers who want to fly for vacation, more and more passengers are waiting at the check-in counters. Many countries have lifted corona restrictions, travel without restrictions is possible again.
Low capacity remains
In the first quarter of 2023, Switzerland carried three million passengers, an increase of more than 70 percent compared to the same period last year. However, customers are faced with an offer that airlines have drastically reduced during the pandemic. Swiss is flying at only 85 percent of its 2019 capacity this year. The airline does not want to make any changes in this regard this year.
So supply stays tight. The situation is currently worsened by engine problems on Airbus aircraft. Hundreds of planes have been grounded around the world. Switzerland is also affected.
And all this amid inflation, which is driving up kerosene, catering and ground handling costs. The result: Mr. and Mrs. Swiss are paying more and more for airline tickets.
Prices have increased by 50 percent since the beginning of the year. This is shown by calculations made by the online comparison service Comparis. “Airlines face geopolitical challenges,” says Comparis finance expert Dirk Renkert, 58. “They are struggling with supply chain issues and a shortage of skilled workers. Combined with increased demand, this leads to significant price increases.”
They shouldn’t flatten out anytime soon. “There’s no trend reversal in sight,” says Renkert.
Worth booking early
Whether it’s long-haul flights or short trips in Europe, high flight prices make vacations significantly more expensive. Package tours have also become 21 percent more expensive since January. And the trend continues to point upwards. Therefore, early booking is more valuable than ever, especially for families.
Meanwhile, life at home is expensive: In April, prices of daily consumption goods increased by 3.1 percent compared to the same month of the previous year. This is illustrated by the Comparis consumer price index, which shows perceived inflation in collaboration with ETH’s Center for Economic Research (KOF). It only measures the price evolution of regularly consumed goods such as food, medicine and clothing.
Figures from Comparis show that inflation has a particularly strong impact on food products. “They’ve gotten a lot more expensive in the last twelve months,” says comparison expert Dirk Renkert. Milk, cheese and bread became more than eight percent more expensive. In April, beer was 7.7 percent more expensive than the same month last year.
Will prices be around the corner soon? Will inflation fall again? “Inflation remains high overall,” Renkert says. “Unfortunately, there can be no talk of relaxation.”
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
