A year of strong recovery – is a good summary of 1998 for Geneva International Airport, in terms of air transport activity and financial results.
First of all, air traffic. While 1997 was to some extent a year of marking time, 1998 saw a 5,1% rise in total passenger traffic over the 1997 figure and, with 6,490,968 passengers, set a new absolute record – the previous peak was in 1995 with 6,266,911. It should be noted that for scheduled flight and charter passengers the result was an even greater increase, at 5,3% over the 1997 figure, which, at 6,439,709 is also a new record – as against 6, 226,188 en 1995.
What is interesting is that the increase in passenger numbers occurred at a time of more moderate growth in the number of movements (a movement is a take-off or a landing): 1,4% higher than in 1997, at 151,516. This means that the average aircraft load factor was higher.
Outstanding financial results
1998 produced excellent financial results. Indeed, the operating account shows a net profit of more than 18 million francs. The strong growth of both aeronautical and commercial revenue goes a long way towards explaining the strong upswing in net profits (7 million in 1997), but costs were also better contained.
The rise in commercial revenue is a good reflection of the desire of management to turn the Airport and the shopping arcade of the CFF Geneva-Airport railway station into a real commercial centre, in very active partnership with all the concessionaires with a presence on the site.
1998 was also marked by the entry into force on 15 November of the revised aviation law, which is a major step towards the complete liberalisation of air transport in Switzerland. This new orientation, in the view of the Airport’s management, undeniably opens up new prospects for airlines – be they Swiss or foreign – wishing to operate in Geneva or to strengthen their presence here.