25-Sep-2012 1:19 PM

Cologne Bonn Airport expects EUR3m profit in current business year, sees reduction in traffic

Germany's Cologne Bonn Airport stated (24-Sep-2012) it expects to report a profit of EUR3 million in the current business year. “In the light of the generally difficult conditions on the German aviation market, we are pleased with this result," said Michael Garvens, the chairman of the management board Flughafen Köln/Bonn GmbH. “Reductions in flight routes as a consequence of the air traffic tax has put a damper on passenger air traffic throughout Germany; in the domestic flight sector the figures have even taken a downward turn. In the air cargo sector, Cologne/Bonn is one of the few airports in Germany that can show a plus.” The airport is expecting a 3% year-on-year decline in passenger numbers to 9.3 million in 2012, amid a reduction of seating in the airlines operating at Cologne Bonn Airport. “Our customers suffer greatly from the air traffic tax, that gives a distorted image of competition in aviation,” Mr Garvens noted, stating that domestic passenger levels have been particularly effected since the tax is levied twice – on the outbound flight and on the return. Alone in 2Q2012, domestic air traffic declined by 3%. Mr Garvens also noted the cost pressure related to increased fuel costs, which has caused airlines to cancel routes or to restructure their programme. Meanwhile, with moderate growth of 1% to 750,000 tonnes, the development of cargo traffic at Cologne Bonn Airport for 2012 has been "comparatively positive", with the airport anticipated record results in cargo in 2012. [more - original PR - German]

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