Encouraging 1H2011 earnings from Zurich, Vienna and Schiphol not merely explained by ash cloud

Premium Analysis

Zurich, Vienna and Amsterdam Schiphol (Group) airports have revealed their 1H2011 financial results. The first two are dominated by Lufthansa, which owns their respective national airlines. All three report revenue increases of up to 10% though that is at least partly explained by the negative effect of last year’s ash cloud, while EBITDA increased by between 15% and 34%.

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