Schiphol earnings plummet as crisis hits travel
Amsterdam’s Schiphol airport posts a record 76.6 percent drop in net profit for the first six months of this year.
The Hague – Dutch airport operator Schiphol Group reported a 76.6 percent drop in net profit for the first half of 2009 as the economic crisis cut passenger numbers by 11 percent.
"The first half of 2009 was hard hit by the economic crisis," Schiphol Group chief executive officer Jos Nijhuis said in a statement.
At Amsterdam's Schiphol airport, Europe's fifth busiest for passengers and third for cargo, "this has resulted in an unprecedented drop in passenger and cargo transport volumes."
The group said its net profit fell from EUR 95.8 million in the first half of 2008 to EUR 22.4 million this year.
This was the result of an 11 percent decline in passengers, 26.5 percent in cargo and 9.2 percent in air transport movements.
The results were also affected by a provision of EUR 33.5 million for a restructuring programme involving a 25 percent staff reduction, about 500 people, at Schiphol Group headquarters by the end of 2010, the statement said.
A total of 47.4 million passengers travelled through Schiphol airport in 2008.
AFP / Expatica