Business News

Aerodrom Ljubljana Sees Profit Drop by 30% in 2010

Brnik, 14 April (STA) - Airport operator Aerodrom Ljubljana posted EUR 33.88m in revenues in 2010, almost flat compared to the year before, while the net profit fell by 30% to EUR 4.28m. The results were affected the most by the financial troubles of the company's no. 1 partner, Slovenian flag carrier Adria Airways.

The company made EUR 5.87m in pre-tax profit, which is 21.6% less than in 2009, according to the report Aerodrom Ljubljana published on Thursday.

The Ljubljana Joze Pucnik Airport, operated by Aerodrom Ljubljana, received 1.39 million passengers in 2010, 3.2% less than in 2009, but the share of passengers flying with Adria Airways increased by 1.6 percentage points to 77.7%.

The number of flights fell by 6.4% to around 42,600 in 2010. On the other hand, the volume of transported cargo increased by 20.8% to around 17,300 tonnes.

As predicted, 2010 was one of the hardest for the airport operator, the company wrote, adding that Slovenian sole airliner's financial trouble resulted in failure to pay its duties and pressures to reduce prices.

In 2010, the airport operator transformed its claims towards Adria Airways into a stake in the flag carrier's technical branch, acquiring almost 50% in Adria Airways Tehnika for some EUR 7m.

The operator said it was lucky to have been repairing the runway when the volcanic ash from Iceland spread over Europe, closing the skies for air traffic and causing major losses for airliners.

Aerodrom Ljubljana is also happy to have low-cost carrier Vueling flying from the Ljubljana airport again and that Easyjet has launched a Ljubljana-Paris route.

Aerodrom Ljubljana expects no major changes in the economic situation in 2011, but expects to make 3.7% more flights and to carry 1.2% more passengers and 10.9% more cargo.

The company plans to build a business and logistics centre Airport City/Aeropolis at Brnik for companies from the fields of tourism, warehousing, trade and logistics. The centre is also to include a hotel and recreational facilities.

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