Flughafen Wien struggles as airline turmoil intensifies

Flughafen Wien Group, parent of Vienna International Airport, has presented its financial report for the three months (2Q09) and six months (1H09) ended 30-Jun-06. Revenue was down by 10.3% in 1H09 and EBITDA by almost 25%. The most recent quarter witnessed a further deterioration and net profit fell by 44%. The company faces difficulties handling the ailing SkyEurope, which has at least temporarily been shown the door, and with a government audit amidst suggestions that it failed to inform shareholders of cost over-runs on the new Skylink terminal. [1498 words]

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This report contains the following subheadings:

• 9% passenger decline anticipated in 2009
• Vienna – It means nothing to me. Will SkyEurope return?
• Squeezed at either end of the operating spectrum
• Intense opposition
• Skylink costs under scrutiny

This report contains the following charts and tables:

• Flughafen Wien financial highlights: three months ended 30-Jun-2009: (EUR million)
• Flughafen Wien financial highlights: six months ended 30-Jun-2009: (EUR million)
• Flughafen Wien Group revenue growth, EBITDA growth and net profit growth: 1H2009 and 2Q2009
• Vienna Airport’s 12.7% loss of traffic in the first six months of 2009 breaks down as follows
• Vienna Airport passenger numbers: 2005 to 1H2009
• Vienna Airport passenger number growth and cargo volume growth: Aug-2008 to Jul-2009