Geneva International Airport publishes satisfactory results for 2009


03.05.2010

Geneva International Airport (GVA) ended the 2009 business year with a turnover of over 295 million francs, which enabled it to generate profits of nearly 40 million francs. This healthy financial situation means that the airport authorities can press ahead with the Airport’s investment and development plan.

During a press conference on Monday, 3 May, Francois Longchamp, Chairman of the Board, and Robert Deillon, CEO of GVA, unveiled the financial results for 2009.

Presaged as the year of the worst crisis the airline industry has ever experienced, 2009 ended with a satisfactory outcome that confirms GVA’s financial soundness.

Turnover for 2009 was CHF 295'132'000, for a net profit of CHF 39'631'000. The share of profits payable to the state will be CHF 19'815'000. Investment during 2009 amounted to CHF 73'537'000.

The slight decline in traffic (-1.7%) compared with a exceptional 2008, the work of remodelling the shopping and restaurant facilities on the Airport, the global economic crisis, and the appreciation of the Swiss franc against the pound sterling reduced business revenue in 2009, accounting for 21.4% of GVA’s total cash flow (compared with 24.9% in 2008). For the first time in years, aviation-related income (landing fees, passenger fees, etc.) outstripped non-aviation-related income. The balance between aviation-related (50.2%) and non-aviation-related (49.8%) income means that GVA can charge attractive rates and remain competitive.

"The healthy financial situation will enable us to press ahead with GVA’s investment and development plan," said Longchamp and Deillon.