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Macquaries arrivederci Roma was just in time

15-May-2008

Aeroporti di Roma (AdR), a unit of Gemina SpA, reported an 11% fall in EBITDA for three months ended 31-Mar-08, while its net result swung to a loss of EUR5.9 million, from a break-even position a year earlier. AdR stated its results are increasingly conditioned by the "totally inadequate" level of tariffs to support its growing volumes of activity and costs. A spokesman stated, "a new tariff arrangement to support the company's expansion and lasting financial equilibrium cannot be postponed any longer". [641 words]

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