The FINANCIAL — Major growth in passengers, millions in profit again: in the current financial year 2015, Cologne/Bonn Airport is expecting significantly more passengers than planned so far and, based on the persisting high growth rates, has lifted its forecast for the full year to 10.2 million passengers. In comparison to 2014, this represents a growth in passengers of 8 percent. Apart from that, the airport operating company will, like last year, generate a profit of EUR 3.1 million.
“The development in 2015 is extremely pleasing. Cologne/Bonn has been one of the strongest growth airports in Germany all year long. This trend will also continue next year,” said airport boss Michael Garvens when presenting the quarterly balance sheet. Also for 2016, he expects a significant growth in passenger numbers on a scale of around 10 percent and a corresponding rise in passenger numbers to then over 11 million. “The arrival of the new Lufthansa long-haul subsidiary, Eurowings, and the surge in low-cost traffic in Europe will give us an additional boost next year,” explained the Chairman of the Management Board of Flughafen Köln/Bonn GmbH.
In the first three quarters of the current year, Cologne/Bonn Airport counted 7.71 million passengers – 7 percent more than in the same period last year. With that, the Rhineland airport developed better than the market and was among the fastest growing German airports. At the end of September, Cologne/Bonn was in place 3 of the ranking of the airports with strongest growth behind Stuttgart and Hamburg, according to Cologne/Bonn Airport.
The winter schedule, which traditionally involves less traffic, is marked by numerous product extensions by the airlines, which will already have very positive effects on the airport’s traffic figures in the final quarter 2015. “We are expecting the strongest winter in the history of the airport with monthly passenger growth of partly almost 20 percent,” said Garvens. One of the key impulses is coming from the new Lufthansa subsidiary, Eurowings, which from November will operate from Cologne/Bonn to 10 intercontinental destinations in Asia and the Caribbean, as well as the Middle East. “With Eurowings, we want to establish ourselves in the long-haul segment in the long term,” said Garvens. An additional growth driver is the Irish carrier, Ryanair, which in the winter schedule is expanding its offering from Cologne/Bonn from 11 to 17 destinations.
In total, around 5.4 million seats to 87 destinations by 22 airlines will be offered in the winter schedule, which applies from 25 October. That equates to additional capacity of 26 percent when compared to last winter and, at the same time, an all-time record for Cologne/Bonn Airport. The new winter schedule will include 19 completely new destinations. For the first time, Eurowings is offering 10 long-haul destinations and Ryanair 9 new routes when compared to last winter. Wizz Air is starting two further destinations (Sofia, Cluj) and one new route each will be added by Intersky (Friedrichshafen) and Chalair (Lyon).
In addition, numerous routes will be topped up with additional flights. Germanwings alone is offering 22 additional weekly flights in the winter schedule and remains the most important airline customer at Cologne/Bonn Airport with over 300 departures per week.
Financial trends
Because of the positive traffic developments, a surplus in millions will be reached, like already in 2014. The airport operator’s profit will amount to EUR 3.1 million at the end of the year – exactly the same as last year. “That is especially important to secure the future investments”, added Michael Garvens. Revenues will rise in 2015 by EUR 17.3 million to 291.6 million, which represents a plus of 6.3 percent.
Current developments and construction projects
The new long-distance bus station at Cologne/Bonn Airport will go into operation as planned on 28 October. “It will be Cologne’s most attractive bus station with modern infrastructure and 24-hour catering”, stressed Garvens.
The airport will also demolish Car Park 1 and replace it by a new building on the same spot. “The present car park is in need of renovation. The new building will meet the latest requirements and comprise around 3,200 parking spaces”, said Garvens. The construction of the new P1 should be completed by 2019. The costs run to around EUR 45 million.
Also in full swing is the planning for a second hotel on the airport site, for which construction is expected to begin in 2017. The airport operator is presently considering whether to build the hotel itself or to conduct a combined operator and investor competition. The location remains the space between the two terminals right next to the airport rail station. A hotel of the medium or top category is being planned.
Discussion about this post