airport operator Brussels International Airport Company (BIAC) took a €10
million ($9 million) in 2001 as a result of the collapse of national carrier
Sabena and Belgian charter carrier City Bird.
of reporting of its full audited figures for 2001 later this month, BIAC says
it will report revenues of €280 million against pre-tax profits of €22 million.
pre-tax profit figure represents a drop of around 56% on 2000. This includes a
one time provision of €10 million to cover charges associated with the Sabena
and City Bird bankruptcies on its costs.
chief financial officer Michel Alle tells ATI at the company’s offices:
“It is a one time cost due to the City Bird and Sabena bankruptcies. We lost
some revenue but it was income not paid by Sabena and City Bird.”
airport was able to maintain a growth in revenues in 2001 following the
introduction last April of a new transfer tax as well as increasing security
charges. Taxes went up per passenger €2, while a €10 transfer tax was added.
The new taxes helped to boost aeronautical revenues, which rose by 14% over the
also rose last year. Alle says: “The increase in tariffs is [partly because] we
took over some costs of the airline.”
The airport also incurred extra cost through a bus service needed for
some of the remote aircraft stands, a temporary measure implemented while work
is carried out on completing the new Pier A terminal upgrade – due to open
later this month.
also notes: “The airport will from 2001 onwards be including a financial charge
on the full year of €13-14 million associated with the acquisition of the
airport land costing €205 million. The airport arranged last year for the
acquisition to be financed through a 10-year government subordinated loan.
airport hopes to reach break-even this year, before taking into account the
financial charge for government loan. Alle says: “Currently our goal is before
the impact of the land acquisition, is to break even in 2002. We are working
hard on that but I cannot give an indication if we will be able to reach our