The 2011 business year

an outstanding performance through consistent cost control, revenue gains and operational improvements - Seite 2

2011 amounted to CHF 399.21 million. The 6% increase on the CHF 376.55 million
of 2010 is attributable primarily to the payment of skyguide´s Eurocontrol
membership fee: this was previously paid by the Swiss government, but is now
paid by the company itself. The operating result for the year was a surplus of
CHF 27.97 million - a substantial improvement on the CHF 11.69 million deficit
incurred for 2010 that is attributable in no small part to continued rigorous
cost controls. The overall net result for the year amounted to a surplus of CHF
28.35 million, which compares to a surplus of CHF 6.1 million for 2010. "We are
delighted that, thanks not least to its improved business and operating
parameters, skyguide can present a balanced result for 2011, " says Chairman of
the Board Guy Emmenegger. "We have been working towards this objective for
several years now, and would like to take this opportunity to thank our
politicians, the authorities and our further partners for all their support."

Adverse currency movements
The strength of the Swiss franc posed a particular challenge last year. Skyguide
earns most of its revenues in euros, while almost all of its costs are in Swiss
francs. As well as the resulting exchange-rate losses, these currency movement
developments also had the effect of artificially inflating skyguide´s route
charges; and this in turn damaged the company´s competitive credentials in
broader European terms. "The recent currency trends are a genuine cause for
concern, " confirms Daniel Weder, skyguide´s CEO, "and we are looking at various
options to limit future income losses here."

An outstanding operating performance
Once again, skyguide delivered a strong operating performance for the year as a
whole. Despite the higher traffic volumes, the punctuality of the flights
managed reached a new record high: 96% of all flights were handled without
delays (compared to 95% for the year before). For en-route traffic, the delays
attributable to air traffic services were lowered by as much as 60% year-on-
year. The favourable operating performance for 2011 can be ascribed to various
actions that have been taken to raise system capacity. These have included
intensified recruitment activities to increase air traffic controller numbers.
Last year also saw the adoption of a new planning tool that enables personnel
resources to be assigned even more effectively in response to projected traffic
volumes.

Slow progress with FABEC
Switzerland and skyguide continue to work together with Belgium, France,
Germany, Luxembourg and the Netherlands to create Functional Airspace Block
Europe Central (FABEC), one of the nine new "functional airspace blocks" of the