In order to secure its long-term competitive strength, Copenhagen Airports (CPH) will align its organisation to the lower level of activity which the aviation industry is currently experiencing as a result of the coronavirus crisis and which is expected to continue for some time. As a result, CPH is contemplating cutting 650 full-time positions from the company’s current approximate total of 2,600. Over the coming weeks, discussions will be held with CPH’s union representatives to determine the expected redundancies. Copenhagen Airport CEO Thomas Woldbye says this is the saddest decision he has had to make during his nine years with CPH, but that it is necessary in order to safeguard the airport’s future operations and financial position.
CPH has in recent months implemented a number of operational and investment cost cuts in order to align costs to the current level of activity. Cost cuts initiated for the current year amount to approximately DKK 950 million. To put this into perspective, CPH had revenue of DKK 4.3 billion in 2019.
