Business News

Airport Operator's Q1 Profit Down 40% Y/Y

Ljubljana, 27 May (STA) - Airport operator Aerodrom Ljubljana saw its first quarter net profit fall by 37.3% year-on-year to EUR 424,000. Operating revenues were down 1% to EUR 6.72m, according to unaudited data posted on the website of the Ljubljana Stock Exchange.

Earnings before interest and taxes fell by 66.8% compared to the first quarter of last year to EUR 169,000 this year, while earnings before interest, taxes, depreciation, and amortisation were down 13.3% to EUR 1.8m.

Passenger numbers increased by 0.6% to 240,588, the amount of cargo rose by 15.7% to 3,715 tonnes, while plane transfers were up by 0.2% to 9,239.

The company did not expect a major turnaround in the first quarter as yet. Passenger numbers, arrivals and departures were on a par with the 2009 figures.

The economic turmoil forced air carriers into cost cutting, which was reflected in fewer plane transfers in scheduled flights, while by contrast general aviation recorded a "satisfactory" growth, the company said.

Apart from the flag carrier Adria Airways, the Joze Pucnik Ljubljana Airport serves EasyJet, Air France, CSA Czech Airlines, Turkish Airlines, Jat and Montenegro Airlines, which operate scheduled flights to 20 European cities.

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