Business News
Vienna Airport's profit drops 19.5 per cent in 2009
Mar 25, 2010, 9:40 GMT
Vienna - Vienna Airport's net profit plummeted by 19.5 per cent in 2009, as passenger numbers dropped amid the difficult economic climate, the company said Thursday.
The airport, which is a key hub between Western and Eastern Europe, made a net profit of 73.4 million euros (97.8 million dollars).
The company, Flughafen Wien AG, handled 18.1 million passengers, 8.3 per cent less than in the previous year.
Traffic to Eastern Europe fell sharply by 15.1 per cent, while passenger figures for the Middle Eastern region picked up by 5.7 per cent.
The airport's revenue fell in line with traffic, declining by 8.5 per cent to 501.7 million euros.
The company saw its operating profit go down by more than a quarter, to 99.6 million euros.
'Traffic results in recent months show that the low point appears to have been passed. For 2010 we are expecting an increase of 3 per cent in the number of passengers', chief executive Herbert Kaufmann said.
A new terminal is scheduled to open during the first half of 2012. Soaring costs resulted in a management shake-up last year, and construction was stopped by nearly eight months until February to renegotiate building contracts.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
