But Infratil's European airports division reported an ebitda loss of $1.9 million, compared with earnings of $1.4 million the year before, and a net loss of $20 million. "We believe we can turn all three (Glasgow Prestwick, Kent and Lubeck) into substantive airports," Mr Morrison said. "I think we are making some progress but it's a long, hard, slow job."
NZ dollars, of course