ARGENTINA. Net losses for airport operator Aeropuertos Argentina 2000 (AA2000) trebled in the first half of this year, as it registered a loss of -14 million pesos (-US$4.69 million) compared to -4.25 million pesos (-US$1.42 million) in the first half of 2003.
Business News Americas reported that “increased financial costs due to the devaluation of the Argentine peso” were to blame for the poor results.
AA2000’s revenue for the period rose +21.3% to 227 million pesos (US$76.1 million) and operating profit stood at 34.4 million pesos (US$11.5 million), against a 70.1 million peso (US$23.5 million) operating loss in the same period last year.
In 2003, AA2000 posted a 41.5 million peso (US$13.9 million) consolidated net loss against a 39.4 million peso (US$13.2 million) consolidated net profit in 2002.
The publication also said that AA2000 expected 2004 to be a second year of recovery, with an increase in mainly international passenger traffic, although “[the] expected volumes are far lower than those used in the national airports system bidding process”.
AA2000 operates 32 airports in Argentina. InterBaires, Latin America’s second largest duty free operator, runs travel retail outlets at all AA2000’s airports such as Buenos Aires Ezeiza, Cordoba, Mendoza and Buenos Aeroparque Jorge Newbery.
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