Flughafen Zürich AG Zürich Flughafen Significant events 7 January 25 August The Swiss Federal Supreme Court’s decision of 22 Decem- Via its joint venture with A-port Chile S.A., Flughafen ber 2010 on the provisional operating regulations places Zürich AG is awarded the concession for Antofagasta current flight operations on a solid legal foundation with airport in Chile. established take-off and approach routes. 5 September 14 January For the eighth consecutive time, Zurich Airport receives Zurich Airport once again receives the “Business Traveller the prestigious “World Travel Award” for its user-friendli- Award” for best transfer airport in Europe and achieves ness and consistently high quality standards. an excellent second place in the overall rankings for “Best Airport in the World”. 12 September Construction of a temporary noise barrier begins on 1 April the hangar apron. This temporary barrier is scheduled to For the second time in a row, Zurich Airport wins the be replaced after around two and a half years by an “Skytrax World Airport Award” for best airport baggage enclosed noise protection hangar. delivery. The award confirms the high standard of passenger services at Zurich Airport. 28 September The airport operator submits its revised noise charge 1 June framework to the Federal Office of Civil Aviation (FOCA) The first Arrival Duty Free Store in Arrival 2, covering within the specified time limit. some 650 m², opens its doors. Both arriving and departing passengers are now able to purchase duty-free 21 October goods at Zurich Airport. Zurich is only the third airport Flughafen Zürich AG submits the planning application in Europe to offer duty-free shopping to arriving for “The Circle” to the town of Kloten. passengers. 22 November 20 June Swiss Federal Councillor Doris Leuthard and member of Zurich Airport wins the “Eco-Innovation Award” for the the Zurich Government Council Ernst Stocker cut the first time, in recognition of its commitment to the ribbon at the opening ceremony for the new Dock B and environment. The prize is presented by Airports Council security check building. International (ACI) Europe, the association of European airport operators. 27 November Zurich Canton voters firmly reject both the municipali- 4 July ties’ “Initiative II” (no runway expansion) and the The new 8,400 m² freight dispatch hall opens for counterproposal. Flughafen Zürich AG welcomes this business. outcome, as it demonstrates that blocking airport development does not have majority support in the 14 July Canton of Zurich. Flughafen Zürich AG opens a new information and service desk in Arrival 2 under the name of “switzerland- 1 December info+”. The desk assists arriving passengers and visitors The new Dock B and the security check building with information about flights and excursion destinations commence operation. in Switzerland, among other things. 15 December 19 July Meteo Schweiz signs the lease to relocate its headquar- The second Arrival Duty Free Store with floor space of ters to Operation Center 1. This new major tenant will around 1,100 m² opens in Arrival 1. now occupy around 3,500 m² at Zurich Airport. 2011 23 August 21 December Flughafen Zürich AG posts excellent results for the The airport operator submits a sound insulation concept first half of 2011. Compared with the same period in for residents to the south of the airport to the Federal 2011 2010, profit for the first six months rose 47.9% to Office of Civil Aviation (FOCA). ANNUAL REPORT CHF 73.5 million. Flughafen Zürich AG OF FLUGHAFEN ZÜRICH AG P.O. Box, CH–8058 Zurich-Airport Annual Report | www.zurich-airport.com Flughafen Zürich AG Zürich Flughafen Significant events 7 January 25 August The Swiss Federal Supreme Court’s decision of 22 Decem- Via its joint venture with A-port Chile S.A., Flughafen ber 2010 on the provisional operating regulations places Zürich AG is awarded the concession for Antofagasta current flight operations on a solid legal foundation with airport in Chile. established take-off and approach routes. 5 September 14 January For the eighth consecutive time, Zurich Airport receives Zurich Airport once again receives the “Business Traveller the prestigious “World Travel Award” for its user-friendli- Award” for best transfer airport in Europe and achieves ness and consistently high quality standards. an excellent second place in the overall rankings for “Best Airport in the World”. 12 September Construction of a temporary noise barrier begins on 1 April the hangar apron. This temporary barrier is scheduled to For the second time in a row, Zurich Airport wins the be replaced after around two and a half years by an “Skytrax World Airport Award” for best airport baggage enclosed noise protection hangar. delivery. The award confirms the high standard of passenger services at Zurich Airport. 28 September The airport operator submits its revised noise charge 1 June framework to the Federal Office of Civil Aviation (FOCA) The first Arrival Duty Free Store in Arrival 2, covering within the specified time limit. some 650 m², opens its doors. Both arriving and departing passengers are now able to purchase duty-free 21 October goods at Zurich Airport. Zurich is only the third airport Flughafen Zürich AG submits the planning application in Europe to offer duty-free shopping to arriving for “The Circle” to the town of Kloten. passengers. 22 November 20 June Swiss Federal Councillor Doris Leuthard and member of Zurich Airport wins the “Eco-Innovation Award” for the the Zurich Government Council Ernst Stocker cut the first time, in recognition of its commitment to the ribbon at the opening ceremony for the new Dock B and environment. The prize is presented by Airports Council security check building. International (ACI) Europe, the association of European airport operators. 27 November Zurich Canton voters firmly reject both the municipali- 4 July ties’ “Initiative II” (no runway expansion) and the The new 8,400 m² freight dispatch hall opens for counterproposal. Flughafen Zürich AG welcomes this business. outcome, as it demonstrates that blocking airport development does not have majority support in the 14 July Canton of Zurich. Flughafen Zürich AG opens a new information and service desk in Arrival 2 under the name of “switzerland- 1 December info+”. The desk assists arriving passengers and visitors The new Dock B and the security check building with information about flights and excursion destinations commence operation. in Switzerland, among other things. 15 December 19 July Meteo Schweiz signs the lease to relocate its headquar- The second Arrival Duty Free Store with floor space of ters to Operation Center 1. This new major tenant will around 1,100 m² opens in Arrival 1. now occupy around 3,500 m² at Zurich Airport. 2011 23 August 21 December Flughafen Zürich AG posts excellent results for the The airport operator submits a sound insulation concept first half of 2011. Compared with the same period in for residents to the south of the airport to the Federal 2011 2010, profit for the first six months rose 47.9% to Office of Civil Aviation (FOCA). ANNUAL REPORT CHF 73.5 million. Flughafen Zürich AG OF FLUGHAFEN ZÜRICH AG P.O. Box, CH–8058 Zurich-Airport Annual Report | www.zurich-airport.com Flughafen Zürich AG Corporate profile 5 Foreword Address to shareholders 8 Review & outlook Customers & markets 12 Corporate responsibility 15 Quality management 17 Business & traffic trends Key data (2-year comparison) 24 Trend in traffic volume 26 Results trend 29 Segment reporting 34 Holdings & subsidiaries 36 Investments 37 Consolidated cash flow statement 38 Balance sheet structure 39 Outlook 39 Airport of Zurich Noise Fund 40 Environmental protection 44 Corporate governance 56 Risk management 64 Financial report Consolidated financial statements according to IFRS 74 Audit report 121 Financial statements according to the Swiss Code of Obligations (CO) 124 Audit report 138 - 3 - Flughafen Zürich AG | Corporate profile As a diversified business and a listed company, Zurich Airport – Switzerland’s gateway to the world – is a Flughafen Zürich AG operates Switzerland’s most quality airport at the heart of Europe offering excellent important transport and meeting hub – Zurich Airport – access to international, national and regional transport on behalf of the Swiss Confederation. In the formulation networks. Zurich Airport regularly wins awards for its and implementation of its strategy, Flughafen Zürich AG excellent services, short transfer distances, friendly staff, underpins the three aspects of cost-efficiency, environ- cleanliness of its infrastructure, reliability of its processes mental responsibility and social responsibility. In this way and other quality indicators. This performance can be it aims to increase the company’s competitiveness and credited to around 24,000 employees at more than 270 credibility and add to its value on a sustainable basis. partner companies, who ensure each day that passen- The company focuses on its core activities: being a gers and visitors enjoy the time they spend at Zurich national and international airport operator, operation of Airport. the commercial centres in the landside and airside areas, as well as income-oriented management and further development of real estate in the Zurich region. Flughafen Zürich AG employs around 1,570 staff. Board of Directors Chairman: Andreas Schmid Nomination & Compensation Committee Audit & Finance Committee Political Affairs Committee Chairman: Kaspar Schiller Chairman: Martin Candrian Chairman: Ernst Stocker Management Board CEO: Thomas E. Kern Operations Marketing & Real Estate Finance Services Stefan Conrad Stephan Widrig Daniel Schmucki Michael Schallhart - 5 - L-R.: DANIEL SCHMUCKI, THOMAS E. KERN, MICHAEL SCHALLHart, Stefan CONRAD, STEPHAN WIDRIG Flughafen Zürich AG | Corporate profile Operations Finance All the tasks required for ensuring safe, efficient and The Finance division is responsible for the financing and high-quality flight operations are grouped together in the liquidity of Flughafen Zürich AG, ensures transparency Operations division.