Zurich registers higher passenger and profits in 2011

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Zurich Airport's profit increased 23.4% to Swfr170.9 million ($187.1 million) last year, while passenger volume grew 6.4% to 24.3 million.

Revenues at Switzerland's main hub were up nearly 5% from Swfr863 million in 2010 to Swfr905.4 million last year.

The good performance was driven by strict cost management and the increased number of travellers, says the airport's chief executive, Thomas Kern.

The main driver for the traffic growth was local passengers, which make up two thirds of the customers and increased by 7.4%. Transfer travellers were up 4.5% to 8.3 million, while the number of aircraft movements grew 3.8% to 279,000.

Of the total revenue, 64% came from airline operations, with the remainder being related to other income streams. While the former grew 8.4% to Swfr579.6 million, the later was up 2.8% to Swfr325.8 million in 2011.

Earnings before interest and tax increased 15.5% to Swfr283.8 million.

Zurich Airport invested around Swfr330 million last year, including the Dock B gate complex and centralised security facilities.

Assuming there are no "extraordinary events" in 2012, the company expects passenger volume to increase by around 2% and yield "slightly higher" profits this year.