Cologne/Bonn airport expects a loss
Cologne/Bonn airport expects to post a loss of EUR 6.9 million for the current year. The chairman of the board, Michael Garvens recently said in Cologne that the shortfall was due to the withdrawal of DHL and Lufthansa Cargo. He expects that the airport will only handle around 570,000 t of freight this year, which equates to 21 pct less than in 2007. After five successful years, 2008 will be one with challenged, Garvens stated. The airport hopes the situation will improve in the long term by its new customer FedEx, which wants to massively expand its activities from 2010. The airport boosted its turnover to EUR 271.1 million in 2007, a 5.8 pct increase compared to 2006. Earnings before tax rose by 10 pct to EUR 5.5 million.
