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The coronavirus pandemic and the resulting global entry restrictions have led to an unprecedented slump in demand for air travel and massive revenue declines. SWISS’s total revenues for 2020 of CHF 1.85 billion were a full 65.2 per cent below their prior-year level. Adjusted EBIT for the year amounted to CHF -654 million (2019: CHF 578 million). The very weak results for the fourth-quarter period further increased the losses for the year as a whole. Radical actions initiated as early as March 2020 helped stem the losses to a certain degree. But with ever-clearer signs since the beginning of 2021 that the airline industry is undergoing major structural change, SWISS is now considering further measures to ensure its future viability. Passenger volumes have shrunk to a quarter of their 2019 levels, and no tangible recovery is expected before mid-summer 2021. SWISS essentially welcomes all efforts to make travel simple and reliable again, and is counting on the adop