DENMARK. Copenhagen Airport has reported “historically poor” Q1 results despite near normal operations being maintained throughout January and February.
The airport said that the impact of COVID-19 has reduced passenger numbers to less than 900 in recent days, compared to the usual 83,000 daily average.
Profit before tax for Q1, excluding one-off items, was DKK79.4 million (US$11.52 million). This represents a fall of -69.3% measured against the same period last year.
Meanwhile, airport revenues totalled DKK764.3 million (US$110.87 million), -21.4% compared to the corresponding period of 2019.
Concession revenue from the airport’s shopping operations fell -23.1% against Q1 2019, totalling DKK159.4 million (US$23.14 million). The airport said that, due to the coronavirus crisis, it has waived a part of the minimum rent for a majority of the concessionaires in the restaurant and convenience segment, banks and specialty shops.
The passenger total for Copenhagen Airport in Q1 was 4.8 million, which was -24.2% fewer than the same period last year.
Looking ahead, the airport – describing 2020 as a challenging and difficult year for the aviation industry – said that with virtually no air traffic anticipated across April and May, and the extensive uncertainty as to “when the world will reopen”, it is unable to provide guidance on likely near future performance at this time.