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Berlin Airports ended first half of 2008 with marked success

  12.09.2008    

The first half of 2008 was a marked success for Berlin Airports. With a 10 per cent rate of increase in passenger numbers, we are growing much faster than other bigger commercial airports in Germany. Although the chief drivers of this growth are metropolitan destinations in Germany and Europe, long-haul routes are also developing very positively. Capacity utilisation on flights to New York, Bangkok and Doha is good and September will see the addition of a new destination in intercontinental traffic with Beijing.
Looking ahead: in the second half of 2008 we are expecting a decline in growth, even though we are unable at present to determine any major flight cancellations above and beyond those usually experienced in the winter flight schedule compared to the summer. Nevertheless, high kerosene prices and the negative macroeconomic situation must be taken into account. On the whole, however, the Berlin market is proving to be very robust and is in a better position than many of its competitors. There are three fundamental reasons for this.
1. Berlin Airports is growing in terms of quality. While growth recorded between 2003 and 2006 was largely due to the success of low-cost carriers in Schoenefeld, the strong growth recorded in Tegel since 2006 is due to established carriers. Business trips, conferences, high-quality cultural tourism and weekend breaks in particular have increased. This also means that the revenue per seat is rising.
2. Berlin Airports is highly diversified. Traffic volume is spread out over several areas, meaning the location is less susceptible to the crises of a single carrier.
3. Berlin's unique strength lies in its very high rate of incoming traffic. Berlin attracts visitors with its incomparable tourist attractions, is one of the most important conference locations in the world and records stable growth in administrative traffic due to its role as a capital. Berlin is therefore less affected by local crises in different parts of the world than other German airports.
The high growth in traffic is also reflected in the positive financial figures for the first half of 2008. EBITDA (earnings before interest, taxes, depreciation and amortisation) reached 50 million euros (+25%), primarily due to an increase in sales revenue.
This healthy economic growth provides a sound financial basis for expanding Schoenefeld into the Capital Airport BBI. We have already generated almost half of the 440 million euros we will be investing in this project.


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