In the first six months of the year, 13.8 million passengers passed through Denmark’s largest airport. which was an increase of 1.4 million (12%) on the same period of 2023.

With a profit before tax for the first half of 2024 of DKK 491 million ($72.6m) Copenhagen Airports A/S realized an increase in profit before tax of DKK 383 million ($56.6m) compared with the first half of 2023. 

In the first six months of the year, 13.8 million passengers passed through Denmark’s largest airport. which was an increase of 1.4 million (12%) on the same period of 2023.

Copenhagen Airports emerged from the first half of 2024 with total revenue of DKK 2.4 billion ($354m) and a profit before tax of DKK 491 million ($72m) This was a significant improvement compared with total revenue of DKK 1.9 billion ($281m) and a profit before tax of DKK 108 million ($15.9m) in the same period of 2023.

“I am very pleased with the substantial improvement of our earnings compared with last year. The desire for travel is continuing to grow. We definitely feel this at the airport, as the terminals are teeming with activity and happy travellers almost round the clock,” said Christian Poulsen, CEO of Copenhagen Airports.

 Strong revenue growth

Non-aeronautical revenue (the shopping centre, leasing, parking, and hotels) for the first half amounted to DKK 929 million ($137m) a 6% increase compared with the same period last year.

In the first six months of the year, 13.8 million passengers passed through Denmark’s largest airport, which was an increase of 1.4 million (12%) on the same period of 2023.

The increase in the non-aeronautical revenue is relatively lower than the passenger growth, which the operator partially attributed to the expansion of Terminal 3 resulting in temporary closures of stores and restaurants.

Aeronautical revenue from air traffic totalled DKK 1,426 million ($207m) for the first half, a 40 per cent year-on-year increase. Revenue is mainly driven by the increasing number of passengers and the new, higher charges which came into force at 1 January 2024. The charges represent the price that airlines pay for using the airport’s runways, terminals, and services.

Six-figure pax

During the first six months of 2024, the airport recorded 16 days with more than 100,000 passengers passing through the terminals. In the same period last year, there were no days with over 100,000 travellers.

“We have seen some very busy days already this year, so we are off to a really good start to the summer season – the absolute peak season for the airport. A lot of the passengers are holidaymakers from both Denmark and southern Sweden, of course – but many tourists are also flying to Copenhagen to visit the Danish capital and the rest of the country,” noted Poulsen.

Additional routes

With the launch of 34 new routes out of Copenhagen in the first half, there are a total of 293 routes out of Copenhagen Airport to 163 different destinations this summer.

“We are proud that several airlines are choosing to operate new routes to and from Copenhagen and to add more frequencies to existing routes. This helps to strengthen our position as an attractive airport of choice for passengers from both Denmark and southern Sweden,” says Christian Poulsen.

In June, Copenhagen Airport welcomed the world’s largest airline, American Airlines, which opened a route with a daily service to Philadelphia.

Also in June, SAS expanded its route network to the United States with daily flights between Copenhagen and Atlanta.

Asian connections

Copenhagen Airport noted among long-haul routes, Asian destinations were also increasingly popular.

 In the first six months of the year, more than 376,000 passengers travelled on a direct route between Copenhagen and Asia, an increase of 35 per cent compared with the same period last year.

“We are delighted to see traffic recovering on routes to Asia. Several of the airlines continue to face the challenge of having to avoid Russian airspace, so it is positive to see traffic increasing all the same. Passenger numbers between Copenhagen and Asia are still down 37 per cent compared with the pre-pandemic period, however. Hopefully, we will see the positive development continue, with more destinations being added to our route map in the coming period,” says Christian Poulsen.

SAS in Chapter 11

In mid-July the Swedish courts approved the final reconstruction of SAS (Swedish Airlines), thus allowing the the airline can complete its Chapter 11 process in the US.

“SAS is a long-standing and important partner to us. Accounting for almost a third of the traffic, SAS is the largest airline at Copenhagen Airport, and it is good news that the airline can now start to look ahead.

Throughout this process, we have had a close and productive collaboration with SAS, which we look forward to continuing. We can now make plans for the future together, and I expect SAS to continue to play an important role in the airport’s development,” said Poulsen.

SAS is the primary airline using Copenhagen Airport as a traffic hub, flying passengers on routes from the Nordic and Baltic countries to Copenhagen, where they transfer to destinations around the world. SAS is responsible for 80% of all transfer passenger traffic at Copenhagen Airport.

Terminal 3

The terminal area between Gates B and C is being expanded to make extra room for travellers in the future and to accommodate a wider selection of shops, restaurants and a larger baggage reclaim area as well as more capacity for border control.

“We have to ensure that we remain an efficient airport that is attractive to airlines and passengers alike. The new terminal area, which is due to open in 2028, will make for an even better passenger experience. While the construction work is going on, part of the shopping centre will be closed off, but we are doing everything in our power to ensure that the work causes as little inconvenience to passengers as possible,” says Christian Poulsen.

2024 outlook

For the full year 2024, Copenhagen Airport said it still expects 20% revenue growth compared with 2023, primarily driven by increasing passenger numbers and tariffs.

The airport expects a total of about 29 million passengers in 2024.

Copenhagen Airport said it is is guiding for a profit before tax in the DKK 1.15-1.35 billion ($162m – $192m)range, provided passenger numbers reach the 29 million mark.

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