DOCSLIB.ORG

Annual Report 2009 Keykey Datadata Key Data on the Flughafen Wien Group

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2009 Keykey Datadata Key Data on the Flughafen Wien Group The only thing that really counts is long-term success. 2009 was not an easy year. Vienna International Airport was faced with a decline in traffic as a result of the economic crisis. However, the low point in EVERYTHING this trend has already been passed and the number of passengers began to rise again at the beginning of 2010. The terminal extension VIE-Skylink also presented management with an additional challenge. Actions were taken – well thought-out, but decisive. The renegotiation of contracts for construc- tion on the VIE-Skylink allowed Flughafen Wien AG to cut costs and, after the start of operations, modern terminal areas will be available for high-quality passenger handling. THAT COUNTS SOLID Basis. Future PotentiaL. With this book, Flughafen Wien AG wants to emphasise “The only thing that counts“ – how it safeguards long-term success through the expansion of MastereD chaLLenges. Long-term success. capacity to meet demand and with the maintenance of high-quality service standards. As an ideal hub to Eastern Europe and the Middle East, Vienna International Airport offers an extensive route network, excellent minimum connecting time and punctual service. This solid foundation and the best possible utilisation of future opportunities are the real guarantees for the long-term success of Flughafen Wien AG. WWW.VIENNAAIRPORT.COM ANNUAL REPORT 2009 KeyKey DataData Key Data on the Flughafen Wien Group Financial Indicators (in € mill., except employees) Change 2009 in % 2008 2007 Total revenue 501.7 -8.5 548.1 521.4 Thereof Airport 226.5 -9.7 250.8 242.2 Thereof Handling 169.8 -8.9 186.3 180.8 Thereof Retail & Properties 88.8 -6.1 94.6 82.8 Thereof Other Segments 16.2 2.4 15.8 15.6 EBIT 99.6 -25.3 133.3 120.3 EBIT margin (in %)1) 19.9 - 24.3 23.1 EBITDA 166.5 -17.6 201.9 191.0 EBITDA margin (in %)2) 33.2 - 36.8 36.6 ROCE (in %)3) 5.4 - 8.4 9.1 Net profit after minority interests 73.4 -19.5 91.1 87.7 Cash flow from operating activities 155.5 4.8 148.4 164.4 Equity 794.8 2.4 776.4 734.9 Balance sheet total 1.860.9 7.2 1,735.3 1,560.9 Capital expenditure4) 223.6 -25.0 298.1 193.8 Income taxes 22.7 -18.6 27.8 26.5 Average employees for the year5) 4,148 -2.8 4,266 4,087 Industry Indicators MTOW (in mill. tonnes)6) 7.3 -7.1 7.8 7.3 Passengers (in mill.) 18.1 -8.3 19.7 18.8 Thereof transfer passengers (in mill.) 5.5 -8.2 5.9 6.0 Flight movements 243,430 -8.6 266,402 254,870 Cargo (air cargo and trucking; in tonnes) 254,006 -5.2 267,985 272,362 Seat occupancy (in %)7) 68.7 - 68.2 69.2 Stock Market Indicators Shares outstanding (in mill.) 21 0.0 21 21 P/E ratio (as of 31.12.) 10.0 36.3 7.3 18.9 Earnings per share (in €) 3.49 -19.6 4.34 4.18 Dividend per share (in €)8) 2.10 -19.2 2.60 2.50 Dividend yield (as of 31.12.; in %) 6.0 - 8.2 3.2 Pay-out ratio (as a % of net profit) 60.1 - 59.9 59.9 Market capitalisation (as of 31.12.; in € mill.) 730.8 9.6 666.8 1,659.0 Stock price: high (in €) 38.84 -52.5 81.69 82.50 Stock price: low (in €) 19.06 -26.7 26.00 67.00 Stock price: as of 31.12. (in €) 34.80 9.6 31.75 79.00 Market weighting ATX (as of 31.12.; in %) 1.5 - 2.1 1.8 1) EBIT margin (earnings before interest and taxes) = EBIT / Operating income 2) EBITDA margin (earnings before interest, taxes, depreciation and amortisation) = EBIT + depreciation and amortisation / Operating income 3) ROCE (return on capital employed after tax) = (EBIT less allocated taxes) / Average capital employed 4) Intangible assets and property, plant and equipment 5) Weighted average number of employees including apprentices and employees on official non-paying leave (maternity, military, etc.) and excluding the Management Board and managing directors 6) MTOW: maximum take-off weight for aircraft 7) Seat occupancy: Number of passengers / Available number of seats 8) Reporting year: recommendation to the Annual General Meeting ”The extraordinary does not happen on an easy or familiar path.“ JOHANN WOLFGANG VON GOETHE EVERYTHING THAT COUNTS SOLID BASIS. FUTURE POTENTIAL. MASTERED CHALLENGES. LONG-TERM SUCCEss. 3 EVERYTHING THAT COUNTS Responsible: Ernest Gabmann, Herbert Kaufmann, Gerhard Schmid (The members of the Management Board of Flughafen Wien AG) Published by: Flughafen Wien AG, Communications/Investor Relations Department Schwechat 2010 © Flughafen Wien AG, Vienna. All rights reserved. Concept and consulting: BCA Mensalia Design: Rosebud, Inc. Photography: Franz Helmreich, Stephan Huger, Flughafen Wien AG, INDUSTRIEBILD, Viennapaint, VIE-Metamorphosis Printing and binding: AV + Astoria Druckzentrum To order contact: Flughafen Wien AG P.O. Box 1 1300 Wien-Flughafen Austria www.viennaairport.com Online edition: http://ar2009.viennaairport.com Published in March 2010 Contents Statement by the Management Board 6 Flughafen Wien AG 10 Focus on Skylink 27 Strategy and Growth 31 Employees 36 Sustainable Management 42 Flughafen Wien Shares 47 Corporate Governance Report 53 Report of the Supervisory Board 64 Group Management Report 66 Segments of Business 98 Airport 99 Handling 102 Retail & Properties 107 Other Segments 109 Consolidated Financial Statements 2009 111 Consolidated Income Statement 112 Consolidated Statement of Comprehensive Income 113 Consolidated Balance Sheet 114 Consolidated Cash Flow Statement 115 Consolidated Statement of Changes in Equity 116 Notes to the Consolidated Financial Statements 118 Statement by the Management Board 194 Audit Opinion 195 Glossary and Service 197 Statement by the Management Board Statement by the Management Board Dear Ladies and Gentlemen, The year 2009 presented us with a number of major challenges: The global financial and economic crisis triggered a decline in passenger and cargo traffic, leading many airlines to adjust their flight routes. An important structural change involved the largest customer of Flughafen Wien AG, the Austrian Airlines Group, whose takeover by Lufthansa was finalised during the reporting year. Even though the development of traffic was negative during the reporting year because of the economic crisis, long-term success remains one of our key objectives. Accordingly, the motto of this year’s annual report is “Everything that counts“. The number of passengers handled by Vienna International Airport rose by more than 5% in 2008, but the reporting year brought a decline of 8.3% to 18,114,103. Destinations in the Middle East countered this trend with 5.4% growth. Traffic to Eastern Europe was 14.6% lower, among others due to a stronger decrease in the number of business customers com- pared with vacationers. The low-cost carriers maintained a relatively constant share of the total passenger volume at 23.1%, but handled 9.0% less passengers. Maximum take-off weight fell by 7.1% year-on-year to 7,255,079 tonnes, and flight movements decreased 8.6%. Cargo, including trucking, was only 5.2% lower at 254,006 tonnes due to an increase in Vienna’s market share. Flughafen Wien AG uses tariff adjustments and incentive programmes to promote key strategic intercontinental destinations as well as traffic to Central and Eastern Europe. The annual tariff adjustments (landing, passenger, parking and infrastructure tariffs) are determined on the basis of a long-standing formula that was extended to 2011 during the reporting year: These adjustments are linked to the growth in traffic and the inflation rate. The tariffs at Vienna International Airport were raised by a net total of 0.5% as of 1 January 2010 based on the index 6 Statement by the Management Board formula. This adjustment includes a 13% reduction in the landing tariff as well as a 7.3% increase the passenger tariff. In order to strengthen Vienna’s position as a transfer airport, the transfer incentive was raised by € 2.00 to € 10.21 per departing transfer passenger during the period from 1 July 2009 to 30 June 2010. The Handling Segment was able to defend its market share during the reporting year in spite of the difficult operating environment, reaching a level of 90.1% (2008: 89.9%). Our handling contracts with the key customers Austrian Airlines Group, Lufthansa, NIKI, German- wings and Air Berlin were extended to 2012. We were also able to maintain our extremely high quality standards during the reporting year. With a minimum connecting time of 25 to 30 minutes, Vienna International Airport is the leader in Europe. Our punctuality ratings also improved in 2009, ranking us as one of the best in international comparison and ahead of Munich, Zurich and Frankfurt Airports – which form Lufthansa’s four-hub system together with Vienna. In order to master future growth and maintain Vienna’s high quality standards over the long-term, the expansion of the existing terminal areas is necessary. This objective will be met with the VIE-Skylink project. Numerous factors – such as additional requirements by public authorities, the optimisation of the retail and gastronomy concept, necessary changes in the project and rising prices – led to an increase in the total cost over the original estimate and to a delay in the initial schedule. Furthermore, the complexity of the project as well as the required structural and security equipment led to problems in realising construction as initially planned. In 2008 the company announced a budget of € 657 million, which was approved by the Super- visory Board.
Load more

Recommended publications
  • Mary´S News Prague News Programs and Events In
    Mary’s Website | Accommodation in Prague | Activities in Prague | Out of Prague SEPTEMBER - DECEMBER 2009 Dear Clients, MARY´S SPECIAL OFFERS FOR APARTMENTS Welcome to the regular issue of Mary's Travel Agency Newsletter which serves as quick overview of Prague's and more importantly Mary's' current and upcoming events, special offers, tours, tips for accommodation and other news, you would not want to miss. Take a look around and find BALBINOVA 4.01 APARTMENT easily, conveniently and effectively information that interests you the most. Brand new Thank you for using our services, apartment!!! Mary's Travel Agency Location : Right in the center of the MARY´S NEWS c... SPEND THE CHRISTMAS AND NEW YEARS EVE IN THE MAGIC PRAGUE apartment ~ 63 EUR Prague is a wonderful city for the celebration of Christmas and New Year's Eve. At this time of the year the always magnificent Prague becomes even more a fairytale. Therefore more than 100 000 NA SMETANCE V APARTMENT people come here every year to celebrate New Year's Eve. You will not forget the walks down narrow streets, mulled wine and performances on the Old Town Square for sure. Location : Tranquil If you are looking for the unforgettable experience in the very heart of Europe, then you are area of Vinohrady welcome to Prague. (Prague 2), across For our clients we have prepared a wide range of Christmas and New Year programs: traditional from the park Czech dinners in the most popular Prague restaurants U Vejvodu, New Town Brewery, U Fleku, Riegrovy sady, just Svejk's restaurant U Kalicha, folklore show in the Folklore Garden restaurant, New Year's Eve 5 min.
    [Show full text]
  • Airport Exchange Networklk Planni Ng C Onf Erence
    ACO/CI EUROPE / anna.aero Airport Exchange Networklk Planni ng C onf erence Introduction Barcelona - 24 November 2009 Ralph Anker Editor anna.aero [email protected] 1 1 Introductory overview • Demand trends in Europe • Winter 2009 indicators • Economic factors • Trends in European route development • Mixed fortunes for Europe’s airports • Conclusions 2 2 Traffic trends – AEA airlines 3 3 Traffic trends – AEA airlines 4 4 Traffic trends – AEA airlines 5 5 Traffic trends – AEA airlines • In 2009 (Jan-Sep) AEA airlines reported: – ASKs fell by 4.3% – RPKs fell by 5.5% – Passenger numbers fell by 7.2% – Average load factor fell by 1.0 percentage points to 75. 8% • Quote from Secretary General (17 Nov 09): “The foundations for a sustainable European air transport sector are crumbling. Portions of our industry are close to collapse. Some network airlines are ceasing to exist as independent entities. Others are exiting markets that they will not rere--enter.enter. Secondary markets are losing service. Tens of thousands of people employed by or sustained by the airlines are losing their jobs.” 6 6 LCCs are not AEA members • Apart from AEA airlines Europe is blessed with some major nonnon--AEAAEA airlines – LCCs such as bmibaby, easyJet, germanwings, Norwegian, Ryanair, Vueling, Wizz Air – Assorted charter/hybrid carriers such as Aer Lingus, airberlin, Pegasus, Transavia. com, TUIfly.com – Regional carriers such as airBaltic,,y, Flybe, Meridiana and WiderWiderøøee 7 7 8 8 9 9 10 10 11 11 Airline failures • Europe has (so far) lost only a handful
    [Show full text]
  • The Impacts of Globalisation on International Air Transport Activity
    Global Forum on Transport and Environment in a Globalising World 10-12 November 2008, Guadalajara, Mexico The Impacts of Globalisation on International Air Transport A ctivity Past trends and future perspectives Ken Button, School of George Mason University, USA NOTE FROM THE SECRETARIAT This paper was prepared by Prof. Ken Button of School of George Mason University, USA, as a contribution to the OECD/ITF Global Forum on Transport and Environment in a Globalising World that will be held 10-12 November 2008 in Guadalajara, Mexico. The paper discusses the impacts of increased globalisation on international air traffic activity – past trends and future perspectives. 2 TABLE OF CONTENTS NOTE FROM THE SECRETARIAT ............................................................................................................. 2 THE IMPACT OF GLOBALIZATION ON INTERNATIONAL AIR TRANSPORT ACTIVITY - PAST TRENDS AND FUTURE PERSPECTIVE .................................................................................................... 5 1. Introduction .......................................................................................................................................... 5 2. Globalization and internationalization .................................................................................................. 5 3. The Basic Features of International Air Transportation ....................................................................... 6 3.1 Historical perspective .................................................................................................................
    [Show full text]
  • Analýza Spádové Oblasti a Projekt Rozvoje Linek Z Letiště Leoše Janáčka V Ostravě
    Analýza spádové oblasti a projekt rozvoje linek z letiště Leoše Janáčka v Ostravě Bc. Martina Eliášová Diplomová práce 2012 ABSTRAKT Předkládaná diplomová práce prezentuje čtenáři projekt, jehoţ cílem je návrh na vytvoření nové pravidelné letecké linky z mezinárodního letiště Leoše Janáčka v Ostravě. V teoretic- ké části jsou shrnuty poznatky získané studiem odborné literatury zabývající se leteckou dopravou, cestovním ruchem a analytickými metodami pouţitými v práci. Analytická část charakterizuje současný stav společnosti, podává stručný přehled o ekonomické situaci společnosti a srovnání s konkurenčními letišti. Dále je zde provedena SWOT analýza spo- lečnosti a analýza spádové oblasti letiště z pohledu incomingu a outgoingu. Na základě výsledkŧ analytické části je v projektové části vytvořen projekt na otevření pravidelné le- tecké linky do nové destinace. Klíčová slova: Letiště, incoming, outgoing, spádová oblast, letecký dopravce, nízkonákla- dová letecká společnost, destinace ABSTRACT This disertation presents a reader a project, which aim is to make a proposal of a newly created regular flight from the international Leos Janacek Airport in Ostrava. In the theore- tical section are sumarized knowledges obtained form literature focusing on air transpor- tation, tourism and analytical methods used in the thesis. Analytical part characterize cur- retnt company´s situation, shows general overview about economical company´s situation and draw a comparison with rival airports. After that is made a SWOT analysis and analy- sis of company´s catchment area, based on the wiev of incoming and outgoing. Based on the results of analytical part, there is created the project which deals with opening a regular flight to the new destination. Keywords: Airport, Incoming, Outgoing, Catchment Area, Air Carrier, Low Cost Airline, Destination Děkuji paní Ing.
    [Show full text]
  • Senior Thesis Karan Shah Professor Banerjee Abstract: This Paper Studies the Factors Influencing the Profitability of European B
    Senior Thesis Karan Shah Professor Banerjee Abstract: This paper studies the factors influencing the profitability of European budget airlines through a detailed analysis of three airlines: Ryanair, EasyJet and SkyEurope. It begins by defining budget airlines and examining their origins in Europe. It then looks at previous studies that determine factors that influence the rate of return in aviation. It then undertakes a detailed analysis of the airlines‟ performance from 2000 to 2008. The study concludes by identifying the factors that influence profitability in this industry. They are giving employees stock options, discouraging unions, outsourcing or relocating jobs to country‟s with lower labor costs, fuel hedging, adopting more fuel-efficient aircrafts, outsourcing maintenance to countries with lower labor costs, improving management , a clear cut business strategy, a high load factor, the ability to generate ancillary revenue, size, scale and first mover advantage. Index 1.0 Introduction 2 2.0 What are Budget Airlines 2 3.0 Origins of Budget Airlines 5 4.0 Profitability 7 5.0 Profitability of the European Budget Aviation Industry 9 6.0 Data Source 13 7.0 Data Analysis 13 7.1 Introduction 13 7.2 Profits 15 7.3 Revenue 17 7.4 Scheduled Revenue 19 7.5 Ancillary Revenue 25 7.6 Total Operating Expenses 27 7.7 Staff Costs 28 7.8 Fuel Costs 31 7.9 Miscellaneous Costs 33 8.0 Conclusion 34 9.0 Bibliography 38 1 1.0 Introduction Flying has traditionally been an activity for the elite. It was for important executives who believed that they were entitled to private lounges and champagne on board, and was an activity that most of the middle-class could only afford to undertake a few times a year.
    [Show full text]
  • June 13, 2005 Skyeurope Orders 16 Boeing
    Aviation Partners Boeing News Release A joint venture of Aviation Partners, Inc. and The Boeing Company Contacts at the Paris Air Show: Mike Marino, CEO: 1+206-229-4922 FOR IMMEDIATE RELEASE Patrick LaMoria VP Sales: 1+206-229-4957 In Seattle, Dick Friel, Sr. VP Marketing: 206-762-1171 SkyEurope Orders 16 Boeing 737-700 Blended Winglet™ Systems Central Europe’s First Low-Cost Airline Selects Aviation Partners Boeing Blended Winglet™ Technology *** Largest Blended Winglet Order in Central Europe *** Seattle, WA. June 13, 2005…SkyEurope, with bases in Bratislava, Slovakia; Budapest, Hungary; Warsaw and Krakow, Poland; has ordered 16 Boeing 737-700 Blended Winglet Systems with 16 options. The patented* Performance Enhancing Blended Winglets will be purchased by GECAS and installed by Boeing as Buyer Furnished Equipment (BFE) beginning in February 2006. Advantages of Blended Winglet Technology for SkyEurope include fuel savings, high-tech visual appeal, environmental benefits derived as a result of lower engine emissions and quieter takeoffs. Additionally, because of improved takeoff performance with Blended Winglets, SkyEurope is able to order lower-thrust, lower-cost engines for some of its 737-700s. SkyEurope’s CEO, Christian Mandl says, “SkyEurope decided to equip its Next-Generation Boeing 737- 700 aircraft with blended winglets to benefit from lower fuel burn, better aircraft performance and lower engine thrust requirements. The winglet technology is an investment which will definitely pay off.” “SkyEurope is one of the fastest-growing low-cost airlines in Central Europe and is positioned to take maximum advantage of the Blended Winglet Technology,” says Aviation Partners Boeing Sales Director Troy Brekken.
    [Show full text]
  • Analysis of the Interaction Between Air Transportation and Economic Activity: a Worldwide Perspective
    ANALYSIS OF THE INTERACTION BETWEEN AIR TRANSPORTATION AND ECONOMIC ACTIVITY: A WORLDWIDE PERSPECTIVE Mariya A. Ishutkina and R. John Hansman This report is based on the Doctoral Dissertation of Mariya A. Ishutkina submitted to the Department of Aeronautics and Astronautics in partial fulfillment of the requirements for the degree of Doctor of Philosophy at the Massachusetts Institute of Technology. The work presented in this report was also conducted in collaboration with the members of the Doctoral Committee: Prof. R. John Hansman (Chair) Prof. John D. Sterman Prof. Ian A. Waitz Report No. ICAT-2009-2 March 2009 MIT International Center for Air Transportation (ICAT) Department of Aeronautics & Astronautics Massachusetts Institute of Technology Cambridge, MA 02139 USA Analysis of the Interaction Between Air Transportation and Economic Activity: A Worldwide Perspective by Mariya A. Ishutkina Submitted to the Department of Aeronautics and Astronautics on March 11, 2009, in partial fulfillment of the requirements for the degree of Doctor of Philosophy Abstract Air transportation usage and economic activity are interdependent. Air transportation provides employment and enables certain economic activities which are dependent on the availability of air transportation services. The economy, in turn, drives the demand for air transportation services resulting in the feedback relationship between the two. The objective of this work is to contribute to the understanding of the relationship between air transportation and economic activity. More specifically, this work seeks to (1) develop a feedback model to describe the relationship between air transportation and economic activity and (2) identify factors which stimulate or suppress air transportation development. To achieve these objectives this work uses an exploratory research method which combines literature review, aggregate data and case study analyses.
    [Show full text]
  • Skyeurope Holding AG
    SkyEurope Holding AG Notice The following data represent a snapshot taken at the time of the initial public offering / new listing / inclusion in the MTF and are not updated regularly. ISIN: AT0000497003 Symbol: SKY Trading segment: Official Market Market segment: prime market First trading day: September 27, 2005 Offered shares: up to 11,800.000 common stocks and up to 1,180.000 common stocks (Greenshoe) Category: par-value bearer shares Number of shares 10,000,000 (before IPO): Share capital (before capital EUR 10,000,000 increase): Offering period September 19 until September 21, 2005 (public offering): Price fixing: The offering price is scheduled to be fixed and announced on or about September 22, 2005 Price range: between EUR 5,00 and EUR 10,00 Offering price: EUR 6,00 Issuing volume 70,800.000 (excl. Greenshoe): Lead Manament: CAIB, Sal. Oppenheim Management Board: Christian Mandl Alain Skowronek Erhard Schmidt Supervisory Board: Roland Haas Juraj Koman Lars Peter Elam Hakansson Peter Struhar Shareholder structure Endavour Holdings Ltd (before IPO): EBRD 16.03 % Peter Struhar 8.31 % Euroventures Danube 6.68 % Foundation 6.39 % Others 6.04 % Gesamt: 43.45 % Bank Austria Creditanstalt AG East Capital funds 16.72 % DWS funds 7.79 % GLG funds 7.17 % 1 | Wiener Börse AG Griffin funds 7.04 % Others 1.11 % Gesamt: 39.83 % Loryma Investments Ltd Christian Mandl 8.53 % Alain Skowronek 8.19 % Gesamt: 16.72 % Address: Biberstraße 11/8 A-1010 Vienna Tel.: +43 1 512 42 90 Internet: http://www.skyeurope.com/ Company profile: SkyEurope is the leading Central European low-cost airline.
    [Show full text]
  • 'Low Cost' Airline Sector
    Morrison and Mason 1 Towards a means of consistently comparing airline business models with an application to the ‘low cost’ airline sector Keith J. Mason* William G. Morrison** *Senior Lecturer, Dept of Air Transport, Cranfield University, UK. Corresponding author [email protected] Tel: +44 1234 754 233 Fax: +44 1234 720 532 ** Associate Professor, School of Business and Economics, Wilfrid Laurier University, Waterloo, Canada. [email protected] April 2008 ABSTRACT Meaningful definitions of and distinctions between airline business models are not easily formulated, particularly when one considers the extremely dynamic nature of the industry. The paper outlines a product and organizational architecture (POA) approach to classifying and relating key elements of airline business models. Using indices to create benchmark metrics, the POA model is then used to examine and compare six European airlines. The analysis shows that there are important differences in the business models of airlines who are all commonly referred to as ‘low cost carriers’. The paper demonstrates how differences in the business models adopted by the different airlines contribute to their relative profitability. Keywords: Low cost carrier; product and organizational architecture; airline business models. 1. Introduction Much has been written about the low cost airline business model and what elements in the business model distinguish it from traditional full service airlines. Williams and Mason (2004) reviewed the group of strategies that together enable low cost carriers to exercise cost advantages over full service airlines (p.8) (see also Francis, et.al, 2003). The review highlighted significant differences between low cost carriers in their business models.
    [Show full text]
  • Air Transport: Quarterly Report No 12
    This Boeing 737 is few seconds away from completing one of many routes in the Euro Shuttle network of Air Berlin. AIR TRANSPORT: QUARTERLY REPORT NO.12 3rd QUARTER 2006 (July to September) 1. HIGHLIGHTS AND KEY DEVELOPMENTS........................................................................................................... 2 1.1 REGULATORY ............................................................................................................................................................... 2 1.2 CAPACITY..................................................................................................................................................................... 2 1.3 TRAFFIC........................................................................................................................................................................ 2 1.4 FINANCIAL RESULTS .................................................................................................................................................... 3 1.5 AIRPORTS ..................................................................................................................................................................... 3 1.6 MANUFACTURERS ........................................................................................................................................................ 3 2. SCHEDULED CAPACITY .................................................................................................................................................
    [Show full text]
  • The Economics of Airline Financial Performance and Wider Economic Benefits
    The economics of airline financial performance and wider economic benefits 6th April 2018, Paris Brian Pearce, Chief Economist, IATA www.iata.org/economics Outline • Why is the airline industry suddenly profitable? • After decades of investor capital destruction • Is the change widespread? • Have the underlying economics of the industry changed? • Why is the emergence of protectionism such a threat? • How does air transport bring economic benefit? • Users • Wider economic benefits • Come from the people, goods, capital and ideas we carry between cities • Rather than the jobs required to run the service (with some exceptions) Airlines have suddenly become profitable (for their equity investors) Return on capital invested in airlines and their cost of capital 12.0 Return on capital 10.0 (ROIC) 8.0 6.0 Cost of capital (WACC) % of invested capital % of invested 4.0 2.0 0.0 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 Source: IATA Economics using data from McKinsey, The Airlines Analyst, IATA forecasts After decades of investor value destruction Difference between investing in airlines and investing in similar assets elsewhere 30 20 10 0 US$ US$ billion -10 -20 -30 -40 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 Source: IATA Economics using data from McKinsey, The Airlines Analyst, IATA forecasts And widespread airline failures European LCCs Iceland Express Air Finland Flying Finn snowflake Norwegian Planet Nordic Thomsonfly airlink flyglobespan Ryanair nexus FlyMe Jet2 AerArann flyforbeans.com Viking GetJet mytravellite Aerlingus Monarch SterlingCimber jetmagic Kiss duo easyJet Go Maersk Air flybe Debonair buzz Transavia airberlin SkyExpress Air Wales Hamburg airlines EUjet Basiqair VBIRD centralwings Eurowings VirginExpress Air polonia HLX flywest Smart Wings flyeco LTU Germania dba Skyeurope WIZZ Aeris Helvetic flybaboo AirclickairTurquoise Volotea air lib express vueling myair Clickair Volareweb Pegasus fly gibraltar Atlas-blue WindJet Failed Survived Source: HSBC report – early 2014 situation.
    [Show full text]
  • 3Rd Quarter 2009
    3rd quarter 2009 RD QUARTER 2009 3 WWW.VIENNAAIRPORT.COM If you like this quarterly report, you should Key Data on the Flughafen Wien Group see our latest annual report. Order a copy now! Financial Indicators (in € mill., excluding employees) Change Investor Relations 1–9/2009 in % 1–9/2008 Robert Dusek Total revenue 374.4 -10.4 418.0 Telephone: +43/1/7007/23126 EBITDA 132.6 -19.2 164.2 e-mail: [email protected] EBIT 82.8 -26.6 112.8 EBITDA margin in %1 ) 35.4 n.a. 39.3 EBIT margin in %2) 22.1 n.a. 27.0 Net profit for the period after minority interests 60.8 -28.3 84.7 Cash flow from operating activities 108.2 -5.7 114.8 Equity 783.1 +2.6 763.5 Capital expenditure3) 112.2 -37.3 178.8 Employees4) 4,188 -1.8 4,266 Industry Indicators Change 1–9/2009 in % 1–9/2008 MTOW in tonnes5) 5,445,848 -8.6 5,960,604 Passengers 13,732,465 -10.3 15,307,955 Thereof transfer passengers 4,154,666 -10.0 4,616,752 Flight movements 183,783 -9.8 203,656 Cargo (air cargo and trucking) in tonnes 176,243 -12.5 201,334 6) Seat occupancy % 68.8 n.a. 68.8 Definitions: 1) EBITDA margin (earnings before interest, taxes, depreciation and amortisation) = EBIT + depreciation and amortisation / revenue 2) EBIT margin (earnings before interest and taxes) = EBIT / revenue 3) Intangible assets and property, plant and equipment 4) Weighted average number of employees for the period, including apprentices and employees on official non-paying leave (maternity, military etc.) and excluding the Management Board and managing directors 5) MTOW: maximum take-off
    [Show full text]