Despite the economic crisis and the impact of the new high-speed train route to Paris, EuroAirport finished 2009 solidly with satisfactory results. In 2009, EuroAirport posted revenues of € 77.4 million down 3% on the previous year. Revenues thus dropped less than passenger numbers (-9.6%) and freight tonnage (-16%). The principal reason for this was the complete start-up of operations in the Zone 6 bis, which enabled significant expansion of aircraft maintenance and refurbishment activities. The Swiss franc also had a positive impact on revenues.

Comprising 45% of turnover, aeronautical revenues were down 5.3% compared with 2008. The start-up of operations in the Zone 6 bis kept non-aeronautical revenues stable, with rent and industrial services offsetting declining commercial revenues and parking space rental resulting from lower passenger numbers.

Thanks to € 3 million in savings from a cost-efficiency programme, involving, among other things, a recruitment freeze, operating costs remained stable in 2009 at € 52.5 million. This favourable outcome was achieved despite a large increase in energy expenditure. This cost increase was due to higher volume, stemming in part from the new Zone 6 bis, as well as from rising energy prices. Depreciation also increased by € 0.7 million as a consequence of the start-up of operations in the Zone 6 bis. In comparison with 2008, cash flow remained stable at € 24.6 million (versus € 24.5 million).

End of 2009, EuroAirport also achieved its goal of reducing net debt to below € 100 million a year earlier than expected, recording net debt of € 99.4 million. This successful outcome is the result of many years’ efforts to slash the € 171 million of debt accumulated through the expansion of terminal facilities in 2002. Investments in 2009 amounted to € 12.7 million and mainly concerned maintenance of the existing infrastructure. The net debt/cash flow ratio improved from 4.2 to 4 years.

In the first five months of 2010, EuroAirport was used by 1.4 million passengers. This corresponds to a drop of 1% in comparison with the figures from the previous year. For the same period (January to May 2010), the number of movements (starts and landings) dropped by 1%. This drop is mainly due to the effects of airspace closure caused by the ash cloud in Iceland during the months of April and May.

In 2010, EuroAirport offers flights to the following new destinations: Ajaccio, Catania, Ibiza, Jijel, Nador, Nantes, Oran, Split, Thessaloniki, Pristina and Venice. This extended offering reflects a positive trend which leads EuroAirport to expect moderate growth in passenger figures during the summer months.

The EuroAirport 2009 Annual Report can be downloaded on www.euroairport.com, under “EuroAirport – Request for documentation – Annual Report 2009”.