Schiphol profit falls 40 percent despite passenger increase

During the first half of this year Schiphol saw its net profit drop 40 percent to 121 million euros, according to the airport's half-year figures released on Friday. While the airport attracted more passengers, reduced port charges paid by airlines put a dent in the profits, ANP reports. The airport attributes the decrease mainly to higher depreciation due to the completion of several major projects. The influx of passengers also increased costs. And last year the sale of the airport's stake in Schiphol Airport Retail created a once-off windfall of 50 million euros. Schiphol's revenues increased slightly to 687 million euros, boosted by the 10 percent increase of passengers compared to the first six months of 2015. But this was offset by a 11.6 percent reduction in airport charges in April. In the coming years Schiphol plans to invest heavily to accommodate the growing number of passengers, CEO Jos Nijhuis said while presenting the figures. According to him, the airport is already reaching the limits of its capacity. To continue giving good services the airport will its investment in "capacity, quality and accessibility" from an average of 400 million euros a year to 600 million euros a year, Nijhuis said.