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The listed airport operator, like the entire aviation industry, is feeling the effects of the crown crisis.
Vienna airport was in the red in the first three quarters of 2020. Passenger numbers have plummeted, 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 Airport-Wien Group in Vienna-Schwechat, as well as foreign subsidiaries Malta and Kosice, recorded a passenger decrease of 71.2 percent 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 by more than 80 percent to 62.3 million euros and the operating result (Ebit) went into 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 is no longer due to the crisis,” explained the Airport Tuesday on a broadcast. 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).
In September the Airport Drastic austerity measures imposed due to the crown crisis and the two biggest construction projects, the Pier East renovation and the expansion of Terminal 3, come to a standstill. On 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 .
Massive passenger descent
However, the short-term outlook is not exactly optimistic. In October, the passenger volume was due to the Viennese Airport 86.7 percent below the same month last year, flight movements 70.3 percent below. From January to October, the Vienna 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. “The decrease in traffic in Airport Vienna continues, currently the number of passengers is 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 location, “said board member Julian Jäger.
In Ebitda they do the math Airport managers Jäger and Günther Ofner for 2020 with a range of 55 to 60 million euros and with a net loss of 75 to 85 million euros to minorities.
As for Corona, the Airport Vienna 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.
(WHAT)
