Copenhagen Airports reports growth: More passengers and new routes
Copenhagen Airports A/S ended the first half of 2025 with a profit of DKK 595 million before tax. Global appetite for travel remains strong, with record numbers of travellers passing through the terminals in the first six months of the year.
The 100th anniversary of Copenhagen Airport is set to be a record year in the history of the airport. In the first six months of the year, 14.9 million passengers passed through the terminals, which was 8 per cent more than in the first half of last year and the highest number of passengers ever.
“There is a great desire and need to travel, and we are seeing a continuing increase in the number of passengers using the airport. This applies both to Danish travellers, who make up about a third of all passengers, and to international travellers who visit Denmark or are on their way out into the world,” says Christian Poulsen, CEO of Copenhagen Airports A/S.
Copenhagen Airports A/S ended the first half with a profit of DKK 595 million before tax and total revenue of DKK 2,541 million, an improvement over last year’s H1 profit of DKK 491 million before tax and revenue of DKK 2,355 million.
“I am satisfied with the result for the first six months. Performance is as expected, and the number of travellers is consistent with our forecast. We do not yet see any significant impact of the geopolitical situation on international travel patterns, but we are, of course, monitoring developments closely,” says Christian Poulsen.
Revenue growth
The airport reported revenue of DKK 2,541 million in the first half, a year-on-year increase of 8 per cent.
Aeronautical revenue from air traffic came to DKK 1,548 million in the first half of 2025, a year-on-year increase of DKK 122 million, or 9 per cent.
Non-aeronautical revenue, which is revenue derived from the shopping centre, the parking business, leasing of buildings and premises and from hotel operations at the airport, amounted to DKK 993 million, a year-on-year increase of 7 per cent. The improvement was curtailed by several shops and restaurants being temporarily closed in connection with the ongoing construction project to expand Terminal 3, which is scheduled to open in 2028.
More people fly via Copenhagen
A growing number of travellers at Copenhagen Airport are transfer passengers having a layover at Copenhagen Airport on their journey to other international destinations. In the first half of the year, 3.3 million transfer passengers passed through the airport – 23 per cent more than in the same period last year.
“The increase in transfer passengers means we are consolidating our position as northern Europe’s largest transport hub. More than one in five travellers passing through our airport are in transfer and travelling to other destinations around the world,” says Christian Poulsen.
Nine out of ten transfer passengers travel via Copenhagen on an SAS flight from, for example, Scandinavia, the Baltic countries, northern Europe or other parts of Denmark. The large proportion of transfer passengers helps to ensure more intercontinental routes to and from Copenhagen.
“Good connections to destinations worldwide help attract foreign companies and labour to Denmark, and new direct routes will similarly make destinations around the world more accessible to Danish companies. It has value for society as a whole,” says Christian Poulsen.
New routes and destinations
More and more airlines and passengers choose to fly to and from Copenhagen Airport. During the first six months of the year, 29 new routes were launched for a total of 334 routes out of Copenhagen to 171 different destinations.
“We are constantly working to be an efficient and attractive airport for both airlines and travellers. So, we are obviously very pleased that the airlines are establishing new routes out of Copenhagen Airport, and that several of the routes are even to brand new destinations. This gives travellers from Denmark and southern Sweden more travel options around the world and – just as importantly – gives foreign tourists and business travellers from around the globe easier access to Copenhagen and the rest of Denmark,” says Christian Poulsen.
The vast majority of the new routes are to destinations in Europe, which make up more than 85 per cent of the total traffic from Copenhagen Airport.
Progress for several airlines
SAS, Norwegian and Ryanair, the three largest airlines at Copenhagen Airport, are all witnessing an increase in the number of passengers to and from Copenhagen. The three companies’ total passenger share in the first half of the year was 62 per cent – up from 57 per cent in the same period last year.
“It is of great importance to us when the airport’s airlines are performing well. This is very positive, and we look forward to welcoming even more passengers. All three companies are based in Copenhagen, so it helps create more jobs in and around the airport when there is progress,” says Christian Poulsen.
SAS has chosen to make Copenhagen Airport its global hub, and the airline has so far increased its presence at the airport, adding 18 new routes and more departures to a number of already existing routes. In the first six months of the year, SAS increased its passenger share at the airport by 22 per cent compared to last year, so in the first half of the year the airline accounted for 37 per cent of the total traffic at Copenhagen Airport.
New security lanes with CT scanners
Copenhagen Airport is constantly evolving in order to remain an attractive and efficient airport. At the beginning of May, the first five new lanes opened at the airport security area with new technology and 3D scanners.
The opening of these lanes is a major step on the road to future security checks, which will be completed next spring with a total of 20 new lanes, of which another six lanes will be ready for passengers as early as November.
The new technical solutions include CT scanners that can generate 3D images of the contents of passengers’ carry-on baggage. This makes it easier to identify any items that are not allowed on board the aircraft, while passengers experience a smoother and more flexible security screening process, allowing them to leave all electronics in their carry-on baggage and keeping on watches and belts.
Biodiesel and power from offshore wind turbines
The increasing number of passengers entails a greater climate impact, and the green transition is one of the industry’s most important tasks.
“We have an ambitious target to reduce emissions from own operations by at least 90 per cent by 2030 compared to the 2019 levels. The remaining emissions will be compensated for by investing in recognised climate credits,” says Christian Poulsen.
The target includes emissions from energy consumed in airport buildings, vehicles and equipment. Copenhagen Airport is in the process of electrifying vehicles and equipment, and on 1 July the airport switched to using HVO biodiesel in its own diesel-powered vehicles, such as large fire trucks and snow removal machines. HVO biodiesel is made from residual oil and has a climate impact that is up to 90 per cent lower than that of fossil diesel.
In addition, since the turn of the year, the airport’s electricity consumption has been covered by renewable energy. This is done via a Power Purchase Agreement with Vattenfall, which is linked to two Danish wind farms in the North Sea.
“We are well on our way to achieving our 2030 targets with initiatives that reduce the airport’s own emissions. However, the biggest challenge for the industry is aircraft emissions, which can only be reduced by using fossil-free aircraft fuels. While the transition is moving in the right direction, the pace remains gradual and will depend on strong political commitment to accelerate the production of fossil-free fuels,” says Christian Poulsen.
Danish State to acquire the airport
In December last year, the Danish Ministry of Finance announced that a political agreement had been reached for the Danish State to acquire the majority of the shares in Copenhagen Airports A/S.
The European Commission has approved the Danish State’s acquisition of controlling interest in Copenhagen Airports A/S. ATP, the current majority shareholder of the airport, has announced that the conditions for transferring the controlling interest in Copenhagen Airports A/S to the Danish State are met.
In October, ATP expects the Danish State to submit a mandatory offer to acquire the shares held by the remaining shareholders.
Outlook for 2025
Copenhagen Airport expects the increase in the number of passengers to continue for the remainder of the year to about 32 million in 2025, which is expected to result in 8 per cent revenue growth.
Provided passenger numbers reach the 32 million mark, a profit before tax in the DKK 1.45-1.65 billion range is expected.
However, the financial outlook is uncertain due to the geopolitical and macroeconomic situation, which may potentially have an adverse impact on travel enthusiasm and thus the financial outlook.