Financial outlook

Traffic and revenue trend

Flughafen Zürich AG expects passenger growth of around 3.0% in 2019. Aviation revenue will therefore be higher. A rise in revenue is also anticipated in the Non-aviation segment, with commercial and parking revenue, revenue from facility management and revenue from international business activities all expected to be higher.

Operating expenses

Operating expenses will likely increase in 2019, with operating expenses at the Zurich site rising at a slower pace than operating expenses from international business activities.


The company has earmarked a total of CHF 350 to 400 million for investments in ongoing projects in 2019. At around CHF 140 million, the large-scale project THE CIRCLE accounts for the largest amount of capital expenditure. Two other major investment projects currently under way involve the expansion and refurbishment of the baggage sorting system and the renovation of the maintenance workshop. In addition, Flughafen Zürich AG each year invests substantial amounts in numerous other aviation and commercial projects and in maintaining the value of the existing infrastructure.


Factoring out the one-off effect in the financial year 2018 and any one-off effects during the current year, earnings before interest, tax, depreciation and amortisation (EBITDA) as well as profit in 2019 are expected to be higher than the previous year.