Our investments at the Zurich site are based on the high demand for air travel, especially in the Swiss market. That high demand, coupled with the Group’s successful international development, establish the necessary prerequisites for our ongoing business development.
Demand for air travel remained at a high level in the first half of 2026. Zurich Airport once again recorded increased passenger volumes, which rose to a total of 15,793,939 passengers (up 6%). This development reflects the population’s persistently high demand for mobility.
Despite the high volume of traffic and peak periods, flight operations were managed in a stable and reliable manner thanks to the close cooperation between all partner companies.
In addition to external factors such as weather-related restrictions, geopolitical tensions and their consequences – including uncertainty regarding the availability of aviation fuel in some regions – resulted in greater planning uncertainty in the spring. Several airlines temporarily reduced their services to and from the Middle East or suspended them entirely. However, the impact on operations at Zurich Airport was limited overall, as the decline in traffic to and from the Middle East was offset by additional growth in other traffic regions.
In the first half of 2026, a total of around 217,000 tons of freight was handled at Zurich Airport; this represents a slight decline of 1% compared to the same period in the previous year.
Freight traffic developed differently across the market segments. The increase in exports (+7%) could not fully offset the decline in imports (-6%) and transfers (-2%). This is partly due to the persistently challenging market conditions in international air freight. In addition to the subdued global economy and changes to supply chains, the available freight capacity in passenger transport is also impacting this development. On some routes, the use of state-of-the-art and fuel-efficient aircraft types is resulting in lower belly capacity compared to aircraft used in the past.
Overall, the freight business remains at a stable level. Accounting for around 62% of the total volume, transfer traffic remains the most important segment of the freight business at Zurich Airport.
The route network was expanded in the reporting period. Three new airlines – Norwegian, Kuwait Airways and China Eastern Airlines – are now flying to the Zurich site. At the same time, existing routes were expanded and new destinations were added to the route network. According to the current 2026 summer flight timetable, 67 airlines are offering flights from Zurich to a total of 212 destinations.
Zurich Airport Ltd. continued to make targeted investments in the digitalisation and automation of passenger processes in the first half of the year. This can be seen, for example, in the modernisation of security checks, which was advanced with the introduction of new CT scanners. The new technology, which has been in use since the end of June 2026, allows passengers departing from Zurich Airport to carry containers of liquids with a capacity of up to two litres in their hand luggage. In addition, it is no longer necessary for passengers to remove liquids and electronic devices from their luggage in the security check lines in the security check building. This offers passengers greater convenience while also simplifying procedures at the security checkpoints.
At the same time, airlines have expanded their range of self-service bag drop options. Etihad Airways and Finnair passengers can now also check their luggage themselves.
Digital passenger information has been expanded. Current waiting times at check-in, security checkpoints and passport control can now be seen on the passenger pages of the airport website. This helps guide passengers before they arrive at the airport and allows them to plan their trip more precisely.
The introduction of the European Entry/Exit System (EES) was completed with the Europe-wide launch on 10 April 2026. Together with the Zurich Cantonal Police, Zurich Airport Ltd. has met the infrastructural and operational requirements and continuously supports the competent authorities in implementing the new border clearance processes. The collection of biometric data of non-EU/EFTA citizens sometimes led to longer waiting times at border control.
Political and regulatory developments also shaped the first half of the year. The Zurich Cantonal Council clearly rejected the Airport Night-Time Curfew Initiative and at the same time passed a counterproposal. In doing so, it affirmed Zurich Airport’s existing operating hours, which are from 06:00 to 23:30. In addition, the National Council advocated for legal protection of the current operating hours of national airports within the revision of the Federal Aviation Act. The proposal strengthens legal certainty for national airports and underlines their importance for Switzerland’s international connections.
Negotiations regarding airport charges were successfully concluded with those the airport users identified as relevant in accordance with the Airport Charges Regulation. The new Airport Charges Regulation enters into force on 1 October 2026 and creates planning certainty for the coming years for both the airlines and Zurich Airport Ltd. It stipulates lower basic charges for flight operations while setting targeted incentives for quieter operations. Part of this is a reclassification of noise classes as well as higher noise charges that provide for additional noise charges during the sensitive hours of the night.
Zurich Airport won awards for its high quality of service during the reporting period. Particularly noteworthy is Zurich Airport’s designation as “Best airport in Europe in 2025” in the 25 to 40 million passenger category of the ASQ Customer Experience Awards, which are presented by the Airports Council International (ACI), the trade association of the world’s airports.
The real estate business was stable in the first half of 2026 and made an important contribution to business performance. Demand for office, service and commercial space at the Zurich site remained high. New lease agreements and expansions with existing partners confirmed the attractiveness of the site. This was also reflected in the results of the regular tenant survey, which resulted in above-average satisfaction scores compared to the rest of the industry.
Additional space in the Circle was leased to several different companies, including Avolta and Edelweiss.
Despite ongoing construction projects, the commercial business developed positively overall. Revenue increased significantly compared to the same period in the previous year, particularly airside, in line with the increase in passenger volume. Landside revenue remained stable despite restrictions and the closure of commercial space due to various construction projects.
Major contracts were extended or newly concluded to secure commercial revenue streams in the long term. This includes the long-term continuation of the cooperation with Avolta in the duty free, convenience and food & beverage segments.
Social outreach also continued. The Schweizer Tafel Foundation received support from January to May 2026 as part of the “Charity Wasser” initiative. Since June 2026, the proceeds have been donated to the Verein Werkstätte Drahtzug workshop association, which helps people experiencing mental health challenges integrate both professionally and socially. The joint campaign with Avolta has been an integral part of airport operations for many years.
In the first half of 2026, Zurich Airport consolidated its position as a popular destination for excursions and experiences. Observation deck B celebrated its 15th anniversary, which was marked with a range of activities for visitors.
The appeal of the offer was further increased with extended opening hours as part of the “Airport by Night” event series and through various themed days organised together with partner companies. Not only had around 135,000 people visited the observation deck by the end of June, but it also welcomed its four-millionth visitor since it first opened.
Guided tours, bus tours and events on the airport grounds and in Circle Park were met with great interest as well. These included fully booked spotter tours as part of the WEF, the sold-out Day Time Party and larger corporate events organised by companies in the Circle.
The programme for the upcoming Zauberpark festival was also presented. In recent years, this event has become established as an integral part of the winter events on offer in the Zurich region.
Zurich Airport Ltd. makes ongoing investments to upgrade its infrastructure. These efforts aim to ensure operational efficiency, achieve quality improvements for passengers and partners, and lay the foundation for the long-term development of the Zurich site.
Major progress was made on several strategically important infrastructure projects in the first half of 2026. The request for planning permission for the detailed project was submitted for the new building to replace Dock A and the dock base. This project is a core component of Zurich Airport’s long-term development.
The request for planning permission for the runway extensions was also submitted. This project increases the safety margin of flight operations and strengthens operational stability at Zurich Airport.
Work continued on the project to develop landside passenger zones, including the TREATS food hall. The aim is to cater to landside airport passenger and commuter flows that have been steadily increasing in recent years and to create attractive offers for passengers, visitors and employees.
The baggage sorting system project took a major step towards completion. Renovations in Dock E and the connecting tunnel continued and were completed. They form an important foundation for baggage handling in the future.
The superstructure for the Rächtenwisen cargo hangar project was completed, and tenant improvements began in the reporting period. The new facility is currently expected to be commissioned in early 2027.
The modernisation of the Skymetro is progressing according to plan and the first stage was completed before the summer holidays. One of the two trains has been running in a four-carriage constellation since then. After the project is completed in summer 2027, both Skymetro trains will be running with four cars, creating additional capacity for passengers.
Other infrastructure projects also continued as planned. Interior fitting work began in the temporary module. This building will play an important role for passengers and partner companies during construction of the new Dock A. Work has begun on lounges and special processes in the south of Dock B that will give rise to new, high-quality operating areas. Progress was also made on the apron work north of the existing Dock A. At the same time, civil engineering works began for the expansion of the passport control hall.
A ground-breaking ceremony was held for the new General Aviation infrastructure in Zone West while planning for the new maintenance hangar is moving forward. Work on modernising the public petrol station on the south side of the Circle is also proceeding according to plan.
To preserve and promote biodiversity, Zurich Airport Ltd. undertakes ecological compensation measures, with one of those being the challenging Glatt revitalisation project. This project hit an important milestone in June: The flooding of the large meander, a series of river bends, ecologically upgraded the area around the meander while also creating additional habitats for plants and animals.
Various projects were further developed in the areas of innovation and digitalisation. These include ZRH Innovation Hub projects such as automated shuttle buses for employees, further development of digital boarding processes and use of the Trend Radar to continuously monitor relevant developments.
The Airport Operations Plan (AOP) was also further developed. The cooperation between partner companies to promote data-based airport management provides better information for all parties involved and enables forward-looking optimisation of infrastructure and personnel planning, which ultimately improves punctuality in operations. More than 1,200 shift workers from all partner companies use the app at least once a day – with nearly 7,500 people registered.
The rollout of SAP S/4HANA is also progressing within the scope of the S4US transformation program. The focus in the first half of the year was on extensive testing and data migration. With the new SAP system, Zurich Airport Ltd. is creating the foundation for standardised and future-proof business processes.
The implementation of the 2040 Climate Programme was driven forward in a targeted manner in the first half of the year. The programme’s main thrusts are measures aimed at transitioning the cooling and heating systems to renewable sources, decarbonising the buildings, expanding in-house electricity production and electrifying the vehicle fleets.
Zurich Airport is achieving a major milestone with construction work on its new “Mitte” energy facility progressing rapidly. Going forward, the energy facility will be the heart of the sustainable energy supply for the buildings at the main airport complex and will pave the way for a further reduction in fossil fuels. Innovative energy projects were pursued at the same time. These included exploring a subglacial groove that could serve as seasonal thermal energy storage. Further measures to promote the circular economy were also implemented.
Zurich Airport Ltd. continued to invest in the expansion of in-house electricity production. Most recently, several new solar systems on Dock E were commissioned at the end of February. Together, these systems have an installed capacity of 444 kWp. This means the solar power equivalent to the electricity requirements of around 100 households can be generated annually.
In ground transport, the charging infrastructure for electric vehicles at the airport was expanded.
International holdings and subsidiaries continued to develop positively in the first half of 2026 and are an important part of the corporate strategy.
The opening of and start of operations at Noida International Airport in the first half of 2026 marked a milestone in the international business of Zurich Airport Ltd.
After several years of planning and implementation work, an airliner landed at the airport for the first time on 15 June 2026. Prior to this, all necessary operating licences were obtained and the regulatory requirements for the start of operations were met. This included, in particular, the setting of airport charges. The official opening ceremony took place in March 2026 in the presence of high-ranking representatives of the Indian authorities and politicians.
The start of operations was successful, and new routes are being added on an ongoing basis. Flight operations will initially be limited to domestic and freight flights, with international flights to be added at a later point in time.
The transition from the construction phase to the operational phase was accompanied by corresponding changes to the management structure. Christoph Schnellmann, who played a key role in shaping the airport’s development and realisation as its CEO, moved to the airport’s Board of Directors and assumed the function of Executive Vice Chairman. Operational management was transferred to Nitu Samra, who continues to serve as Chief Financial Officer, on an interim basis.
The four majority-owned airports in Brazil – Florianópolis, Vitória, Macaé and Natal – recorded year-on-year passenger growth of more than 10% in the first six months of 2026. Natal Airport performed particularly well, doubling its international passenger volume compared to the previous year and exceeding its total international traffic volume of the previous year in the first half of the year thanks to the new connections to Buenos Aires and Montevideo.
Florianópolis and Vitória were once again voted the best airports in Brazil. Florianópolis earned this award for the sixth time in a row and took first place. Vitória followed in second place, having earned the award for the fourth time in a row. Natal also further improved its standing in the national passenger satisfaction ranking.
In Chile, the concession for Antofagasta Airport ended in February 2026. Airport operations were then handed over to the new concession holder. Zurich Airport Ltd. remains active in the Chilean market through its stake in Iquique Airport.
The positive results of the company-wide team barometer survey conducted by Zurich Airport Ltd. in the first half of 2026, coupled with a high response rate, once again confirmed employees’ strong identification with the company and provided valuable input on how to improve this collaboration even further.
The Leadership Programme, launched in 2025, was continued and further developed in the reporting period. Based on the COACH values (collaborative, open, agile, committed, human), it establishes a shared understanding of leadership and supports the integration of these principles into leadership practices within the company.