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In the first three quarters of 2020, the company was in the red. The number of passengers has collapsed, as have sales. For the year as a whole, the Board of Directors expects an even larger loss, and the decline in traffic has recently continued. The hope is in the rapid corona tests.
From January to September, the Flughafen Wien Group in Vienna-Schwechat and foreign subsidiaries Malta and Kosice recorded a 71.2 percent drop in passengers to 8.7 million passengers. At the Vienna location, the passenger drop was 70.7 percent to just over 7 million travelers. The number of flight movements fell in the first nine months of this year by more than 60 percent to 80,580 takeoffs and landings, the average load factor of 77.5 to 59.5 percent.
Sales plummeted nearly 57 percent to 277 million euros. Earnings before interest, taxes, depreciation and amortization (Ebitda) fell more than 80 percent to 62.3 million euros and the operating result (EBIT) was in the red at minus 43.6 million euros. “The result is weighed down by the depreciation of 6.9 million euros in the third quarter of the Pier Ost revitalization project, which has been 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 more than doubled compared to the end of 2019 (81 million euros) (162 million euros). As early as September, the airport imposed drastic savings measures due to the crown crisis and put the two largest construction projects on hold, the renovation of Pier East and the expansion of Terminal 3. On Tuesday, the airport returned to make reference to the savings program worth 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 cornerstone of crisis management.
Hope is in rapid tests
However, the short-term outlook is not exactly optimistic. In October, the number of passengers at Vienna airport was 86.7 percent lower than in the same month last year, and flight movements were 70.3 percent lower. From January to October, the Vienna location only recorded 7.4 million travelers, a decrease of 72.4 percent. In the group as a whole, the decline was 72.8 percent to 9.2 million passengers. “The decrease in traffic at Vienna 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 in the Vienna location, “said board member Julian Jäger. .
In Ebitda, the airport directors Jäger and Günther Ofner expect a range of 55 to 60 million euros by 2020 and a net loss of 75 to 85 million euros before minorities.
Regarding Corona, the Vienna airport relies on rapid antigen tests. The test carried out in conjunction with Austrian Airlines (AUA) is very successful. These test procedures should be used across Europe to get tourism and the economy up and running again, Jäger confirmed. Furthermore, uniform travel standards are needed in Europe and around the world. Current vaccine announcements held out hope for a significant recovery in travel from at least the second half of 2021.
