Brussels Airport in profit against all odds

Brussels Airport in Zaventem is now one of Europe’s most expensive for passengers, next to Schiphol, Charles de Gaulle, Zurich and Athens. Last year, the charges levied per passenger, which airlines pass on in ticket prices, went up by 5.1%. This partly explains why, despite a reduction in the number of passengers and freight, Brussels Airport Company (BAC), which administers Zaventem, saw its profit margin go up last year to 55%.

The number of passengers in 2009 fell by 3.1%, mainly because of snowfalls. Freight traffic, at the same time, dropped by 30%, but BAC was able to record pre-tax earnings up 6.9%, which, after deduction of exceptional items, amounted to €40.4 million.

The Australian company Macquarie owns 75% of the shares in BAC, while the Belgian state holds the remaining 25%. Kerry Mather, CEO of Macquarie, is optimistic about Zaventem for the coming year, as Brussels Airlines feels the effects of its entry into the Star Alliance global airline network. In addition, other airlines have announced new routes and extra flights from Brussels: Air Canada will fly to Montreal, United Airlines to Chicago and Hainan Airlines to Shanghai.

(February 10, 2010)