Istanbul Sabiha Gokcen Airport EBITDA up 16% in 3QFY2012

India’s GMR Infrastructure reported (08-Feb-2012) the following financial highlights** for Istanbul Sabiha Gokcen International Airport for three months ended 31-Dec-2011:

• Airport revenue: USD12.7 million, +20% year-on-year;
  • Aero: USD6.6 million, +29%;
  • Non-aero: USD6.1 million, +12%;
• EBITDA: USD6.8 million, +16%;
• Profit (loss) after tax: (USD4.9 million), compared to a loss of USD4.5 million in p-c-p;
• Passenger numbers: 3.2 million, +6%;
• Cargo volume: 2880 tons, -42%;
• Aircraft movements: 27,660, stable. [more – original PR]

*Based on the conversion rate at USD1 = INR49.15

**Corresponds to 40% stake in Istanbul Sabiha Gokcen International Airport

You may also be interested in the following articles...

• Ryanair defeats European recession and posts all-time annual high net profit, but outlook less rosy
  25-May-2012

  In spite of high oil prices and a Europe-wide economic recession Ryanair further distanced itself from its full service peers and reported a remarkable 25% increase in net profit for FY2011/12 to a record EUR503 million. Operating profit lifted 40% year-on-year to EUR683.2 million. Much to the annoyance and envy of Lufthansa and certainly Air France-KLM Group, which both recorded a deterioration of their financial performance in the most recent financial year, Ryanair improved its net margin by 1ppt to 12% and was able to maintain its operating margin at 14%. This is well above the EBIT margin performance of Europe’s full service carriers. Air France-KLM’s operating margin was negative in FY2011 while Lufthansa Group’s adjusted operating margin came in a 3% and IAG’s operating margin also reached a meagre 3%.

• CAPA India Outlook 2012/13: Critical uncertainty prevails. Possible Air India shutdown
  23-May-2012

  Indian aviation is facing its most uncertain phase in more than a decade. After reporting an estimated record loss of just over USD2 billion[1] in the 12 months ended 31-Mar-2012, India’s airlines are facing an equally challenging year ahead. Weak balance sheets, increasing costs, regulatory uncertainty, a sluggish Indian economy and a difficult global environment will continue to pile the pressure on airlines, especially the poorer performing carriers. However, this may in turn create market opportunities to exploit for those that are better positioned. Some of the key highlights of the CAPA India Outlook 2012/13, to be released on 31-May-2012, include:

  - Indian domestic capacity growth of 7-8% in FY2012/13, traffic to grow 8-10%

  - India’s airlines expected to post a combined loss of USD1.3-1.4 billion

  - Jet Airways to prosper; major aircraft order expected

  - Kingfisher Airlines revival dependent on foreign airline investment