CGN Shows Good Growth for 2014

Cologne-Bonn airport, which is strategically located in North Rhine-Westphalia between Frankfurt and Dusseldorf, reports that 2014 will be a good year for both cargo and passenger growth at the airport.
Figures released a few days ago indeed show positive developments for the passenger, cargo and non-aviation sectors this year.

CEO Michael Garvens of CGN  /  company courtesy
CEO Michael Garvens of CGN / company courtesy

Cargo remains an important sector
Cologne-Bonn also profits from the upswing in cargo growth in Germany this year.
Michael Garvens, CGN’s CEO seems to be contented with developments within his airport cargo department.
He notes that the cargo turnover has grown by around 3 percent since the beginning of this year. Much of this can be attributed to the contribution made by both UPS and FedEx whose express shipments passing through CGN have grown steadily.
But, it’s not only UPS and FedEx; general cargo handling is also showing positive signs of growth.
The airport expects that it will have handled a record 760.000 tons of airfreight by the end of this year.
This is an all-time high and although much of the growth is placed at the doors of the integrators, it shows in the airport Helmsman’s eyes the continued importance of Cologne-Bonn as one of Germany’s best developing cargo airports.

Passenger figures constantly rising.
Thanks to Lufthansa and Air Berlin, who after an almost three year reduction, both increased their frequencies through CGN during 2014, giving passenger figures a much needed boost for CGN.
The tourist traffic also showed healthy increases.
Added frequencies also gave more belly capacity for cargo shipments into and out of the airport.
Regretfully, the strikes by Lufthansa pilots gave the airport 56.000 less passengers so far this year.
Despite all of this, CGN ranks as Germany’s number four airport in passenger movements and it can still show a 4.2% increase until the end of the third quarter of this year compared to the same period in 2013.

Good year-end results, but heavy investments for ensuring future growth.
Mr Garvens expects that Cologne-Bonn will show a year-end profit amounting to 1.0 million euros, which is the same as in 2013.
He is proud of the fact that his airport is one of the six out of twenty-two airports in Germany who will be able to show a profit for this year.
Revenues are expected to reach €272.4 million by the end of the year - a plus of €1.3 million or 0.5%.
EBITDA will reach €54.5 million which is an increase of 3.2%

It is interesting to note that so called “non-aviation” revenues showed an increase of 3.4 % over 2013 and reached almost €91 million. The past investment in the expansion of the terminals with modern shopping malls has paid off, says Mr Garvens.

The airport also recognizes that it must be better prepared for the future and therefore has allocated €75 million for the update of its infrastructure.
The major part of this amount will be used for resurfacing works on the runways.
The airport CEO states that this investment is a must in order to ensure that the airport is readied for the future.

John Mc Donagh 

Write a comment

Comments: 0