Flughafen Wien Sees Flat Passenger Numbers

January 19, 2012

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Vienna airport operator Flughafen Wien expects revenue and net profit to rise this year even though passenger traffic will stagnate after 7.2 percent growth in 2011.

"We are expecting an increase of only zero to one percent in the number of passengers, in particular because of the uncertain economic outlook and the fleet structure changes announced by Austrian Airlines for this year," chief operating officer Julian Jaeger said on Thursday.

Finance chief Guenther Ofner said the company would be able to use cost cuts to offset a substantial part of the pressure on earnings from its Skylink terminal start-up.

"We are expecting an increase in revenue and, after impairment charges of EUR€74 million (USD$95 million) in 2011, a further improvement in net profit which, however, will remain substantially below recent years," he said.

It plans to cut investments through 2015 to EUR€590 million from the EUR€650 million originally envisaged.

"Although results for 2011 are not yet available, we can now say that the dividend recommendation will not be less than 50 percent of the prior year amount", Ofner said.

(Reuters)