The cost of materials and services rose by 13.8 per cent to EUR 16.7bn in the financial year 2011. Higher fuel costs were the driving factor behind this increase. Out of the total steep increase of 26.4 per cent to EUR 6.3bn, higher prices account for 25.3 per cent (including fuel hedging) and greater volumes for 6.9 per cent. At the same time, the US dollar weakening over the course of the year reduced expenses by 5.8 per cent. Price hedging cut fuel costs by a total of EUR 694m in the financial year. The fourth quarter accounted for a share of just EUR 78m.
Other raw materials, consumables and supplies were up by 2.6 per cent at EUR 2.6bn.
Fees and charges climbed by a total of 15.8 per cent to EUR 5.0bn, largely as a result of higher traffic volumes and the first-time levy of the air traffic tax (EUR 361m). The main variables were the increase in passenger charges (+14.7 per cent), air traffic control charges (+9.3 per cent) and take-off and landing fees (+10.4 per cent).