LFV’s result for the first half of 2009 was SEK M 40 which is a massive deterioration compared with the first 6 months of 2008 when the Group’s profit was SEK M 308. Passenger numbers were down 14%.
-This is a considerable reduction in surplus but thanks to continual improvement in operations we are coping reasonably well with what is one of the worst crises to affect air travel in the last decades, says LFV’s Director General Lars Rekke.
The prognosis for the year, taking into account an expected drop of 10% in travel, is a profit of SEK M 50.
LFV’s turnover during the first half of 2009 amounted to SEK M 3,139. This is SEK M 84 less than for the same period last year. Traffic revenue amounted to SEK M 2,080 (2,095) with commercial and other revenues accounting for SEK M 1,058 (1,129).
Passenger numbers in the first 6 months was 13.4 million. This is 14% fewer than for the same period in 2008. Movements were also down by 13% amounting to 320,000.
LFV reduced airport charges on 1 March. This is a temporary discount aimed at reducing airlines costs by approximately SEK M 40 during 2009. LFV has also invested SEK M 25 on marketing activities.
-Within the financial framework we are doing what we can to stimulate the market and support the industry during this difficult time, says Lars Rekke.
During the first half of 2009 a number of important steps have been taken towards improving efficiency and thus more environmentally friendly air travel. EU is at present going towards better usage of European airspace which in the long term will lead to a reduction in fuel and a halving of costs. An agreement has been reached between Sweden and Denmark involving a joint air navigation service and Sweden continues to work towards providing airlines with shorter flight routes.
Arlanda’s aquifer has now been brought into operation. The aquifer uses the nearby boulder ridge known as Brunkebergsåsen to provide cooled water during the summer and heat in the winter. Savings in electricity consumption is equivalent to the annual electricity consumed by 2,000 single family homes.
For further comments please contact the Director General Lars Rekke, telephone +46 (0)708-19 21 20 or Financial Director Mikael Larsson, telephone +46 (0)708-19 26 88.
LFV Group
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