Annual Report 2001 - Flughafen Wien

Status Report 2001
The Business Environment
Events of 11 September accelerate the industry downturn
___A decisive factor for the economic development of an airport is growth in the aviation
industry, specifically for airlines. In addition to general economic conditions, the price of
flights, purchasing power and travel behaviour also play an important role.
The Economy and Industry
___From an economic standpoint 2001 was characterised by an economic slowdown, which
was intensified by the events of 11 September. Whereas growth in the OECD countries totalled
3.9% for 2000, the reporting year showed an increase of just 0.8%. With real GDP growth of
1.1%, Austria surpassed the OECD average, but fell below the EU mean of 1.6%. Consumer
reaction to this situation was reserved, with spending in Austria rising by 1.4% against an
inflation rate of 2.7%.
___This economic slowdown began to affect the aviation industry as early as February. After
a boom in the prior year, cargo volume in Vienna fell by 11.7% in 2001 as a reaction to general
economic conditions. The number of passengers slowed from month to month at all European
airports. The events of 11 September accelerated the downturn in the airline industry, bringing
an abrupt end to hopes for an early upturn. The massive drop in passenger volume during
the last quarter is therefore not only a consequence of less travel by nervous passengers, but
also the result of a decline in frequencies and destinations throughout Europe.
___From a strategic viewpoint, it is important that we were able to expand our leading role as
an East-West hub in this difficult environment, and record double-digit growth in transfers
(+12.2%) and passengers to Eastern Europe (+11.3%).
The Development of Air Traffic in Europe and Austria
___After high growth rates in recent years, the development of traffic at European airports
was weak in 2001 for the above-mentioned reasons. Flight movements decreased by 0.2%
and the number of passengers by 1.4%. Results at Vienna International Airport were generally
better, with a decline of 0.7% in passenger volume and 0.6% in flight movements.
___Zurich, a direct competitor, recorded a drop of 5.8% in flight movements and 4.3% in the
number of passengers, primarily as a result of the Swissair bankruptcy. At Frankfurt, flight
movements declined by 0.1% and the number of passengers by 1.6%. Copenhagen recorded
a decrease of 4.9% in flight movements and 1.4% in passenger volume. The exception was
Munich, with an increase of 6.7% in flight movements and 2.3% in the number of passengers.
The British airports also registered declines of 0.4% in flight movements and 2.7% in the
number of passengers.
36 Status Report
Annual Report 2001