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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Københavns Lufthavne A/S    KBHL   DK0010201102

KØBENHAVNS LUFTHAVNE A/S

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Københavns Lufthavne A/S : Copenhagen Airport suspending night operations for commercial passenger flights

11/09/2020 | 08:37am EST

Copenhagen Airport suspending night operations for commercial passenger flights.

With travel restriction guides advising against unnecessary travel to all the world, the number of passengers is expected to decrease to 10 percent of the level in 2019. Copenhagen Airport have now decided to suspend night operations for commercial passenger flights from the 9th of November. By suspending night flights as in april, CPH can help ease the cost pressure for groundhandlers, airlines, our airport and the authorities.

Copenhagen Airports and a number of the airlines maintaining scheduled flights in CPH have agreed to a plan for flights to operate only during the day and evening hours. Night operations from 24 am to 06 am will be suspended for a month from Monday 9th of november. The suspension will be evaluated every month.

'As Denmark's international we have a responsibility to serve all traffic coming into Denmark and that is possible even though we suspend night operations for commercial passenger flights,' says Dan Meincke, Director of Traffic at Copenhagen Airport.

'It's important to emphasize that the suspension of night operations applies only to scheduled commercial passenger flights. It does not include cargo traffic and will not affect the critical role we have in supporting Danish business in upholding exports and imports. We are also maintaining capacity to ensure we can accommodate ambulance flights, diplomatic flights and such,' says Dan Meincke.

There are four groundhandling companies at the airport: SGH, Aviator, Menzies and CFS. They handle aircraft, passengers and cargo on behalf of the airlines. Like the airlines, the groundhandlers are severely affected by the massive crisis that has hit the aviation industry.

'By suspending commercial night flights, we can help ease the cost pressure for the groundhandlers, so they won't have to schedule a lot of people for night duty. The same goes for Falck PRM service, the authorities and the airport itself,' says Meincke.

This year Copenhagen Airport reduced costs around one billion Danish Kroner by having a lot of projects on hold and by reducing 511 full-time positions.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2019 4 346 M 706 M 706 M
Net income 2019 1 020 M 166 M 166 M
Net Debt 2019 8 371 M 1 359 M 1 359 M
P/E ratio 2019 44,0x
Yield 2019 0,53%
Capitalization 42 065 M 6 841 M 6 830 M
EV / Sales 2018 11,2x
EV / Sales 2019 12,3x
Nbr of Employees 2 600
Free-Float 1,40%
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Managers and Directors
NameTitle
Thomas Woldbye Chief Executive Officer
Lars Nørby Johansen Chairman
Kristian Durhuus Vice President-Customer Service & Operations
Rasmus Hagstad Lund Chief Financial Officer
Christian Poulsen Vice President-Assets & Technology