Coping in Copenhagen? CPH 'pounded' by the loss of Sterling
Macquarie Airports (MAp) shares dived by 6% on another weaker earnings performance by Copenhagen Airports (CPH) in the wake of Sterling's failure. The other north mainland European airport in MAp's stable, Brussels, had a reasonably good 2008, but Copenhagen's financial result was a pale shadow of its neighbour's and the prospects look worse as CPH recorded a fall of more than 14% in passenger numbers in the first month of 2009. [1153 words]
Unlock the following content in this report:
- Passenger record for 2008 ruined by final months' collapse
- Absorbing higher prices
- Sterling accounted for 10% of traffic
- A potential saviour emerges from Ireland
Graphs and data:
- Copenhagen Airport. Summary of financials in 2008 (12 months to 31-Dec-08)
- Copenhagen Airport passenger number growth, revenue growth and EBITDA growth: 1Q07 to 4Q08
- Copenhagen Airports operating performance: 4Q08 vs. 2008
- Copenhagen Airports low cost airlines' traffic proportion: 2002 to 2008.
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