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Almost three-quarters fewer passengers and sales halved, red numbers and last hopes at Schwechat.
It is no news that the entire aviation industry has been more than severely affected by the current crown crisis. The fact that Austrian Airlines and its home airport, Vienna Airport in Schwechat, are not excluded from this either. However, the numbers at the start of the second lockdown and ahead of the long-awaited Corona winter are worth a look at the numbers.
Later, Austrian Airlines had to report in early November that losses in the spring and summer months due to the crown crisis had widened (LEADERSNET reported), Vienna Airport Schwechat also slipped into the red in the first three quarters of 2020 on direct flight and posted a loss of around 41 million euros. The drop can be seen in both passenger numbers and revenue, and given the awkward situation and the second difficult lockdown, the Executive Board expects an even bigger loss for the entire year after the latest drop in traffic. All hope is now in rapid corona tests and new vaccines.
The Covid-19 crisis continues to weigh heavily on aviation: Flughafen Wien Group in the first quarter of 2020 with 71.2% fewer passengers and a drop in sales of 56.9%, EBITDA falls by 80.1 %, remains at € 62, 3 million but positive, the net result is minus 41.3 million euros https://t.co/7bOcxq5ETE pic.twitter.com/A3SBmYxMct
– Vienna Airport (@flughafen_wien) November 17, 2020
Vienna airport turnover plunged nearly 57 percent to € 277 million. Earnings before interest, taxes, depreciation and amortization (Ebitda) fell more than 80 percent to 62.3 million euros and the operating result (Ebit) went into the red at minus 43.6 million euros. Airport managers Julian Jäger and Günther Ofner are openly accounting for Ebitda for the whole of 2020 with a range of € 55-60 million and a net loss of € 75-85 million to minorities.
Deep red numbers on all fronts
“The result is weighed down by the depreciation of 6.9 million euros in the third quarter of the Pier Ost revitalization project, which will be discontinued due to the crisis,” the airport said in a broadcast on Tuesday. The net result before minorities also turned red, it was minus 41.3 million euros. Net debt has more than doubled compared to the end of 2019 (81 million euros) (162 million euros).
“The decrease in traffic at Vienna-Schwechat airport continues, the number of passengers is currently well below the 20 percent of the previous year. For 2020 as a whole, we expect between 7.6 million and 7.8 million passengers at the Vienna-Schwechat location, “the board said. Julian Hunter.
The second testing phase for rapid antigen testing at Vienna Airport and @_Austrian it started. From now on, all passengers on Vienna flights@HamburgAirportVienna tried rapid antigen tests prior to departure. More information at https://t.co/Fvkcucr7Ld https://t.co/YkRHklUUcU
– Vienna Airport (@flughafen_wien) November 13, 2020
Millionaire savings program
In light of the challenging situation amid the corona pandemic, the airport imposed drastic austerity measures in September and put the two largest construction projects on hold, the renovation of Pier East and the expansion of Terminal 3. The Tuesday, the airport again made reference to the savings program for 220 million euros, the investment program reduced by 100 million euros and the company’s reduced working hours for around 6,000 employees, which are the pillars of crisis management .
Unfortunately, all these measures are more than necessary, as there is currently no relief from the situation in sight. The AUA had already forecast the upcoming winter as “harsh and cold” in more ways than one. Last October, the number of passengers at Schwechat airport was 86.7 percent lower than the same month last year, and flight movements 70.3 percent lower. From January to October, the Vienna-Schwechat location recorded just 7.4 million travelers, a decrease of 72.4 percent. Across the group, the decline was 72.8 percent to 9.2 million passengers.
All hope rests on rapid tests and vaccines
Despite the gloomy situation, the airport and the AUA rely on cooperation and positivity: to be able to fly further and safely, rapid antigen tests are used directly at the airport. The test operation that was carried out in conjunction with Austrian Airlines (AUA) was very successful, AUA CEO Alexis von Hoensbroech showed how it works in a video on social media (see above).
If Austria and Vienna Airport have their way, such test procedures should be used across Europe to get tourism and the economy up and running again, says Julian Jäger. In addition, uniform travel rules are needed in Europe and around the world. Further relief is expected from the second half of 2021, when the first vaccines can be used. From this period on, a “significant recovery in travel” is expected. (rb)
www.viennaairport.com
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