Exceptionally good results for 1999


02.04.2006

In presenting the Annual Report for 1999 of Geneva International Airport (AIG) to the press on Thursday 18 May 2000, Mr. Carlo Lamprecht, Geneva State Councillor and Chairman of the AIG Board of Directors, and Mr. Jean-Pierre Jobin, AIG Director-General, underlined the fact that 1999 had been an exceptional year for the Airport in several ways.

Record traffic
To begin with, the annual passenger traffic crossed the 7 million mark for the first time, with exactly 7,019,852 passengers, an increase of 8.1% with respect to 1998. This growth, which is higher than the European average of +6.1%, was obtained with a lower rate of increase (+5.1%) in the total number aircraft movements (take offs and landings), which implies higher aircraft occupation rates - something that should be of interest to the airlines. These excellent results can be explained by the natural growth arising from the economic recovery that is benefiting the whole region, as well as by the additional traffic generated by the Telecom 99 exhibition, which was held in Geneva in October. However, it should also be noted that easyJet Switzerland, whose new product line has met with undeniable success, was responsible for a significant part of the increase in traffic.

Exceptional financial results
The financial results of Geneva International Airport are also exceptional. The growth in passenger traffic has naturally brought higher revenues, both from the aeronautical and commercial activities, than had been budgeted. Moreover, by controlling its expenditures efficiently, the AIG has achieved record operational results, giving rise to a net profit of SFr32.8 million. However, the decision by Geneva's grand Council to pass on to the AIG the burden of paying damages owed by the State of Geneva to the residents in the vicinity of the airport has made it necessary for the AIG to set aside a total of SFr55 million. As a result, the AIG's balance sheet shows a loss of SFr22.2 million.

Economic impact
Finally, while Geneva International Airport has initiated the procedure to renew its Federal concession, which runs out at the end of May 2001, a study into the Airport's economic impact has just confirmed - if this were needed - the important part played by the AIG in the region's economy. In figures, the direct, indirect and induced effects represent an annual contribution of the order of SFr9 billion to the regional economy, while 24,000 jobs are linked in some way to the activities of the Airport.