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ECONOMICS & FINANCE

Cork Airport’s €1 billion impact on the Irish economy

Cork Airport contributed just over €1 billion to the Irish economy and supported more than 12,650 job in 2023, new analysis of the airport’s economic impact has revealed. Launched today by Minister of State for Transport, James Lawless TD, Ireland’s EU commissioner designate, Michael McGrath TD, and Tourism Ireland’s chief executive, Alice Mansergh, the analysis […]

Passenger growth and revenue bonds upgrade at MIA

Miami International Airport (MIA) has started 2024 with its fastest pace ever for passenger growth, serving 1.5 million more travellers in the first quarter than its previous record set in the same period last year. In the first three months of 2024, MIA welcomed 14.9 million passengers, which was a significant 11.6% increase from 13.3 […]

Long time investor AviAlliance sells stake in Budapest Airport

AviAlliance and the co-shareholders of Budapest Airport have agreed to sell the airport to a consortium consisting of the Hungarian state-owned Corvinus Zrt and Vinci Airports. As all terms of the agreement have already been met, the transaction was completed. Gerhard Schroeder, managing sirector of AviAlliance, until today biggest shareholder in Budapest Airport, says: “Since […]

New report highlights economic importance of London Gatwick

London Gatwick generated £5.5 billion for the UK economy and supported over 76,000 jobs in 2023 – levels close to those pre-pandemic, according to new research by leading economists Oxera. The majority of this vital economic activity  took place in six local authority areas across the South East – West Sussex, East Sussex, Surrey, Kent, […]

Positive start to 2024 for Fraport Group

The Fraport Group has enjoyed a successful start to the year, with all key financial indicators achieving at least double-digit growth rates in the first quarter of 2024. The main driver of this positive trend was the continued rise in passenger numbers at most of the airports across Fraport’s global network, which helped boost the […]

Shannon Airport set up for a strong performance in 2024

Following a year of strong growth, Shannon Airport is gearing up to reach the two million passenger mark by the end of 2024, the first time since 2009. According to Mary Considine, CEO of The Shannon Airport Group, growth across all key air services in 2023 surpassed expectations. “Last year saw us welcome 1.959 million […]

VINCI Airports acquires stake in Edinburgh Airport

Global airport investor, VINCI Airports, has acquired a 50.01% stake in Edinburgh Airport in Scotland. It will now work in partnership with Global Infrastructure Partners on developing the gateway, which supports 28,000 jobs in Scotland and contributes £1.4 billion a year to the Scottish economy. Sir John Elvidge, chairman of Edinburgh Airport, said: “We are […]

Record revenues and EBITDA for global airport operator Fraport in 2023

Global airport operator, Fraport, today announced record highs for revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) for fiscal year 2023. The key driver, it states, was a continued recovery in passenger numbers – particularly at the Fraport Group’s airports outside of Germany. Buoyed by this trend, the Group result (or net profit) […]

Heathrow takes dig at government despite being on target to set new records

London’s Heathrow Airport served a record number of passengers in February as 5.8 million people passed through the UK hub last month. The busiest ever February half-term saw more than two million passengers at Heathrow. Winter sun won over the ski slopes with nearly two thirds of travellers landing somewhere warmer than London. Even before […]

Passenger traffic in Spain to exceed 300 million in 2025

Spanish airport operator, Aena, today revealed that it expects its annual passenger numbers to exceed 300 million in 2025, one year earlier than previously projected. The admission, has led it to revise its traffic forecasts and update its financial targets, with around 294 million passengers now expected to pass through its airports this year before […]

Christchurch Airport’s half-yearly financials deliver for city

Christchurch Airport today released its half-year financial results which deliver a higher interim dividend to the New Zealand city than forecast, from a total operating revenue of NZ$115.5 million for the six months to  December 31, 2023. Chair of Christchurch International Airport Limited (CIAL), Sarah Ottrey, says strong visitor numbers, coupled with the strength of […]

Heathrow back in profit after strong traffic recovery in 2023

London’s Heathrow Airport enjoyed the third busiest year in its history, and made a profit for the first time since 2019 last year as it continued its recovery from the global pandemic. A total of 79.2 million passengers passed through its facilities in 2023, nearly 30% more than the previous year. It claims that it […]

Positive year expected for airports in Asia-Pacific and Middle East

The latest Airport Industry Outlook, released by ACI Asia-Pacific & Middle East (ACI APAC & MID), presents a positive trend in the recovery of passenger traffic and airport finances. However, macroeconomic factors continue to pose challenges to the overall recovery of the sector. The Airport Industry Outlook, developed in partnership with Mott MacDonald, reveals the […]

TAV Airports sees revenues soar to €1.3 billion in 2023

TAV Airports’ full-year financial and operational results for 2023 show that it handled 96 million passengers (+22%) across its gateways last year and saw its revenues soar by 25% to €1.3 billion. Forecasting 100 to 110 million passengers in 2024, the company revised its 2022-2025 compound growth expectations upwards. TAV Airports CEO, Serkan Kaptan, stated: […]

Vantage to increase stake in Terminal B operator at LaGuardia Airport

Vantage Airport Group has reached agreement to acquire an additional ownership interest in LaGuardia Gateway Partners (LGP) from Skanska, which is divesting its 32% ownership in the consortium. Vantage will acquire approximately 16% of Skanska’s interest for $57 million. The transaction is conditional on regulatory approvals and customary terms and conditions. LGP is the private […]

New economic impact study shows importance of Greenville-Spartanburg

Greenville-Spartanburg International Airport generates nearly 20,000 jobs and contributes $4 billion in annual economic output to the Upstate South Carolina region, according to the facility’s latest economic impact study. The study found that GSP’s $4 billion total economic impact is 40% greater than the $2.9 billion impact in 2018 and eleven times greater than the […]

Shannon Airport Group contributes almost €4 billion to the Irish economy

The Shannon Airport Group contributes almost €4 billion (€3.96bn) to Ireland’s GDP and supports over 20,300 jobs, according to a new report. Published today, the report independently produced by economic advisory firm Oxford Economics, highlights the significant positive impact of The Shannon Airport Group to the Irish and Mid-West economy in 2022. It also considers […]

Hong Kong airport to jointly develop logistics park in Mainland China

Hong Kong International Airport (HKIA) operator, Airport Authority Hong Kong (AAHK), has signed an agreement with the Dongguan Port Group to establish a joint venture to develop HKIA Dongguan Logistics Park in Mainland China. The new facility will handle sea-air cargo transhipments being transported between Hong Kong and Dongguan. When completed, cargo security screening, palletisation […]

San Diego completes bond sale to help fund new T1 project

The San Diego County Regional Airport Authority has completed a major bond financing totalling $1.062 billion. The combination of the bond sales in 2021 and 2023 have provided $2.35 billion towards the projected $3.4 billion cost of San Diego International Airport’s Terminal 1 project, whose first phase is set to open in late summer 2025. […]

DFW is ‘incredible asset’ driving economic activity across metro area

Dallas/Fort Worth International Airport (DFW) contributes an estimated $38 billion in direct and indirect payroll support, $24 billion in visitor spending and about $5 billion in state and local tax revenue each year, according to the results of an updated economic impact study. The study also reveals that the Texas gateway also supports more than […]

Dispute resolved at Billy Bishop Toronto City Airport

It has been announced that Porter Airlines and Nieuport have “amicably resolved their outstanding disputes and litigation” relating to terminal fees at Billy Bishop Toronto City Airport. In autumn 2022, the owner of the Billy Bishop Toronto City Airport (BBTCA) passenger terminal, Nieuport Aviation Infrastructure Partners GP, obtained judgment against Porter Airlines Inc relating to […]

London Gatwick enjoys ‘strong’ first half of the year

London Gatwick’s interim financial results for the first half of 2023 show that it enjoyed a “strong” six months, despite what it called a “challenging operational environment”. The airport’s revenue increased in the first half of 2023, compared to 2022, and it achieved an improved EBITDA and increased net profit in the half year ending […]

Copenhagen Airport back in profit after busy spring 2023

Copenhagen Airport recorded a profit before tax of DKK167 million in a busy second quarter to reverse its loss before tax from the winter months. As a result, the Danish airport posted an overall profit before tax for the first half year of DKK108 million, during which time it handled 12.4 million passengers – 31% […]

VINCI Airports takes over operation of seven Cabo Verde airports

VINCI Airports today finalised the financial arrangements for the acquisition of seven airports in Cabo Verde, completing the concession agreement signed with the government a year ago. VINCI Airports secured €60 million in financing, maturing over 20 years, from three development banks: World Bank-IFC, Proparco (France) and DEG (Germany). This financing is certified under the […]

Aena signs new energy deal for its Spanish airports

Aena has awarded its electricity supply contract to Endesa Energía SAU and Iberdrola Clientes SAU as it steps up its bid to develop solar power installations across its entire airport network. It states that the purpose of the new deals is to carry out the procedures related to the purchase of energy with 100% renewable […]

Aena signs €2 billion sustainable credit agreement

Spanish airport operator, Aena, has signed a sustainable syndicated credit line (sustainability-linked RCF) for €2 billion, which it says proves its commitment to the environment, social responsibility and good corporate governance. The financing has been granted by 14 national and international financial institutions and has been led by Banco Santander as Arranger and Sustainable Agent. […]

Fraport Group heading in the right direction after pandemic

Global airport operator, Fraport, today revealed that it has “successfully started the new 2023 business year, achieving a noticeable improvement in the Group’s key financial figures during the first quarter of 2022. The positive performance, it says, was driven by ongoing traffic recovery across Fraport’s global network of airports. As a result, Group revenue increased […]

Return to profitability in 2022 for daa Group

The daa Group, operator of Dublin and Cork Airports, duty free firm Aer Rianta International (ARI), and international investment partner, daa International (daaI), recorded a profit before exceptional items of €98 million in 2022. The total compared to a loss of €101 million in the previous year and follows cumulative daa group losses during COVID-19 […]

Government funding boost for Shannon Airport

The Shannon Airport Group has welcomed the allocation of €4.623,486 million in government funding to Shannon Airport announced today by Jack Chambers TD, Minister of State at the Department of Transport. Almost €17 million in exchequer funding for regional airports was announced by Minister Chambers at a media event held at Shannon Airport this morning. […]

New ACI data shines spotlight on industry’s financial recovery trends

ACI World has today published its 2023 edition of the Airport Economics Report and Key Performance Indicators (KPIs), presenting a comprehensive view of the airport industry’s financial performance for the 2021 year. The annual Airport Economics Report presents an in-depth global analysis of airport industry revenues by source, costs, and related trends across the globe […]

Better year for Finavia but Helsinki revenues not enough to fund regional airports

Finnish airport operator, Finavia, today confirmed that its revenues grew substantially in 2022 and the operating margin turned positive. Nevertheless, the result for the financial year was negative due to the low passenger volumes at the regional airports and the low level of transfer travel at Helsinki Airport. The traffic decline at Helsinki Airport meant […]

Shannon Airport set for good year after exceeding expectations in 2022

Shannon Airport’s strong recovery in 2022 exceeded expectations, according to Shanon Airport Group CEO, Mary Considine. The Irish airport welcomed over 1.51 million passengers to the airport in 2022, a 300% increase on 2021 figures, and an 88% recovery of 2019 passenger levels. “The accelerated pace of the rebound in air travel from Shannon has […]

New financing agreement for Lima airport expansion

Lima Airport Partners (LAP) has signed a $1.25 million financing agreement to help fund the ongoing upgrade of Peru’s Jorge Chávez International Airport (LIM). The financing for the ongoing development of the Peruvian gateway is being provided by seven banks – BBVA, IDB Invest, KfW IPEX Bank, Mitsubishi UFJ Financial Group (MUFG), The Bank of […]

TAV set to extend Ankara’s Esenboğa Airport concession to 2050

TAV Airports is set to operate Ankara’s Esenboğa Airport until at least 2050 after its €475 million plus VAT bid to extend its current concession by another 25 years was accepted by Turkey’s State Airports Authority (DHMİ). The decision, which is pending official approval, means that the global airport operator no longer faces having to […]

Slot machine revenue at Las Vegas airport tops $1 billion

The slot machine concessionaire at Las Vegas’ Harry Reid International Airport, formerly know as McCarran Airport, is celebrating generating more than one billion dollars in revenue at the US gateway. Michael Gaughan’s Airport Slot Concession, Inc. has been operating at the Nevada gateway for 36 years and has generated the revenue over the lifetime of […]

Corporación América Airports is preferred bidder for Nigerian airport concessions

Global airport operator, Corporación América Airports (CAAP), is set to enter the African market for the first time after its consortium was named as the preferred bidder to operate Abuja and Kano airports and their respective cargo terminals in Nigeria. CAAP holds a controlling 51% stake in the consortium alongside partners Mota-Engil, Engenharia e Construção […]

FAA to invest $31 million on key airport cargo projects

The FAA has awarded more than $31 million in grants to expand cargo infrastructure at nine airports across the United States. According to the FAA, each project will help expedite the movement of goods throughout the country. “Every day, we rely on goods transported through our nation’s airports,” said US Transportation Secretary, Pete Buttigieg. “This […]

Heathrow reaching out to SMEs to join £188 billion supply chain

Heathrow today invited the SME community to reconnect with its multi-billion-pound supply chain, which it insists can be a part of the airport’s continued recovery, contributing to the local community’s growth and “global Britain’s prosperity”.  The call comes as the airport announced the relaunch of its annual Business Summit. It has been three years since […]

AENA wins concession to operate 11 Brazilian airports

Through subsidiary, Aena Desarrollo Internacional, Aena has been awarded the concession to operate and develop São Paulo’s Congonhas Airport and 10 other gateways across Brazil. The concession, which is initially for 30 years with the option of a five year extension, covers 11 gateways across São Paulo, Mato Grosso do Sul, Minas Gerais and Pará […]

Half year results show better times for Copenhagen Airport and Fraport Group

Copenhagen Airport and the Fraport Group have become the latest airport operators to post improved results for the first half of 2022. Denmark’s capital city airport reports that eight out of ten passengers are back, it has taken on an extra 500 staff to cope with rising demand, and that it is close to breaking […]

Up to 2,000 new jobs going at Brisbane Airport

Brisbane Airport Corporation (BAC) is hosting the BNE Careers Expo next month to encourage up to 2,000 new employees to consider a career at the airport precinct. The airport ‘jobs bonanza’ covers a diverse range of roles including: security, baggage handling, government agencies, airlines, customers service, engineering, corporate services, landscaping, bus drivers, hospitality and retail […]

Aena announces first profits since first quarter of 2020

Spain’s global airport operator, Aena, has announced that it made  a net profit of €163.8 million in the first half of 2022 – nearly a  150% rise on its results for the corresponding period a year ago when it reported a huge €346.4 million loss. The turnaround in its fortunes means that Aena is in […]

Ferrovial to acquire stake in JFK New Terminal One consortium

Ferrovial Airports has agreed to acquire a stake in New Terminal One, the consortium appointed to design, build and operate the new $9.5 billion Terminal One at New York–JFK. Under the deal, Ferrovial is acquiring 96% of The Carlyle Global Infrastructure Fund’s 51% stake in New Terminal One. The completion of the transaction is subject […]

Fraport AG expecting 2022 net profit of between €50 million and €150 million

Fraport AG CEO, Dr Stefan Schulte, delivered a largely positive message to shareholders at the company’s Annual General Meeting (AGM) today. Schulte said: “The year 2021 has shown that we have bottomed out and are now climbing back up step-by-step in terms of traffic volumes. “At Frankfurt, we are getting ready for a busy summer. […]

Fraport to sell stake in China’s Xi’an Xianyang International Airport

Global airport operator, Fraport AG, has announced its intention to sell its 24.5% stake in China’s Xi’an Xianyang International Airport. Fraport, which earlier this month announced plans to divest itself of its shares in St Petersburg’s Polkovo Airport following Russia’s invasion of the Ukraine, has agreed to sell its shares in Xi’an Xianyang to Chang’an […]

Global pandemic costs UK airports £10 billion in lost revenue

UK airports have lost £10 billion in revenue since the first lockdown in March 2020 and have taken on more than £4 billion in debt, according to new analysis by the Airport Operators Association (AOA). Its new report, Reconnecting the UK: recovering aviation connectivity, shows that 2021 was worse than 2020, with airports seeing the lowest […]

Fraport looking to exit St Petersburg-Pulkovo concession

Global airport operator, Fraport, is looking to offload its interests in Pulkovo Airport in St Petersburg in the wake of Russia’s invasion of Ukraine. “There is no justification for the attack on Ukraine by Russian forces. We condemn this war for being an armed attack on a sovereign state and its people – a clear […]

Ferrovial seeking New York JFK deal and agrees to buy stake in Dalaman Airport

Ferrovial Airports is about to widen its international portfolio after entering negotiations to secure a stake in the consortium responsible for building the new $9.5 billion Terminal One at New York JFK and agreeing to acquire a major interest in Dalaman Airport in Turkey. It announced today that it has reached an “exclusivity agreement” with […]

Spotlight on Ferrovial Airports: All systems go!

CEO, Luke Bugeja, tells Joe Bates more about Ferrovial Airports’ business strategy and expansion plans that include developing a network of vertiports in the US and UK. What is the appeal of airports to Ferrovial and do the company’s global ambitions burn as brightly today as when it first entered the market in 1998? Our […]

Course corrections in murky weather

Dan Elliott from Frontier Economics considers some of the immense challenges the global pandemic has created for those planning or regulating air transport infrastructure. The aviation industry had grown used to short-term shocks. After both 9/11 and the global financial crisis of 2008, air travel came back, more or less on track, relatively quickly.  But […]

Industry outlook – past, present and future

ACI World’s vice president for economics, Patrick Lucas, considers the impact COVID has had on the finances of the world’s airports and the economic challenges ahead. Every couple of years ACI World, and its industry partners under the umbrella of the Air Transport Action Group (ATAG), release the Aviation: Benefits Beyond Borders report, a publication […]

San Diego completes largest single bond sale by a Californian airport

The San Diego International Airport has completed a major bond financing totalling $1.94 billion, the bulk of which will be used to pay for a portion of the New T1 programme. According to San Diego County Regional Airport Authority, the new bond will reduce financing costs on a present value basis by an estimated $386.5 […]

Fraport TAV Antalya extends airport concession to 2051

Fraport TAV Antalya has extended its concession to operate Antalya Airport in Turkey until 2051 after offering the highest bid in the tender and pledging to invest €765 million on upgrading the gateway to allow it to handle up to 80 million passengers per annum. It bid €7.25 billion for the concession rights to operate […]

Insolvency Administrator looking for investors for Frankfurt-Hahn

The provisional insolvency administrator for the Frankfurt-Hahn Airport Group has commissioned consultancy firm Falkensteg to look for one or more investors for it or any of its assets, including property. Investors have the option of acquiring all assets, units to be defined or single assets, which include Frankfurt-Hahn Airport. Located in Rhineland-Palatinate, the airport’s facilities […]

CAAP to invest in Uruguay airports after extending Montevideo concession

Corporacíon América Airports SA (CAAP) is to invest $300 million on developing its Uruguayan airport portfolio after its concession to operate and develop Montevideo’s Carrasco International Airport was extended by another 20 years. As a result of the extension, CAAP’s 100% owned subsidiary, Puerta de Sur SA, will operate the gateway until 2053. And as […]

US airport sector view is now positive – S&P Global Ratings

S&P Global Ratings has revised its view of the US airport sector, raising its rating to ‘positive’ from ‘stable’ following what it describes as an improving landscape for the aviation industry. It stated that the sector view revision to positive from stable reflects the resurgence of domestic travel, stabilising airline credit conditions, significant federal assistance, […]

Consortium agrees deal to acquire Sydney Airport

Sydney Airport is set to be sold for a colossal A$23.6 billion ($17.5 billion) after the board unanimously voted to accept an offer from an infrastructure investment group. The offer from Sydney Aviation Alliance (SAA) has been on the table for over a month and the deal, should it go through, will make it one […]

Airports look to future at ACI Europe’s Annual Congress

The soon-to-open new East Wing of Geneva Airport welcomed over 250 delegates this week as it hosted ACI Europe’s 31st Annual Congress & General Assembly, and it proved to be a lively affair, and welcome tonic for many participants, some of which were physically attending their first industry event in two years. The association’s director […]

KAC exporting its expertise internationally

The first half of 2021 has been a busy one for Korea Airports Corporation (KAC), which has quietly gone about expanding in the international arena by undertaking a feasibility study for an airport development project in Laos and been awarded the concession to operate and develop Manta Airport in Ecuador. KAC – which in 2019 […]

Half year losses spell out harsh realities of life for Copenhagen Airports

In announcing a DKK851 million loss before tax for the first half of 2021, Copenhagen Airports today spelt out the harsh realities of the impact of the COVID pandemic on aviation. The loss came as just 1.4 million passengers passed through Copenhagen Airport (CPH) in the first half of the year compared to the 14.4 […]

Fraport’s interim results for first half of 2021 makes for better reading

Global airport operator, Fraport AG, today unveiled its interim results for the first half of 2021, and it makes for better reading than its end of year 2020 accounts, with traffic “markedly picking up” in the second quarter of the year. Indeed, despite a weak first quarter, for the first time since the outbreak of […]

TAV Airports excited about a potentially ‘robust’ third quarter

TAV Airports handled 13.1 million passengers and generated €156 million in revenue across its global airport network during the first half of 2021. The passenger total amounted to 8 million domestic and 5.1 million international passengers at its airports, which include gateways in Turkey, Tunisia, Croatia, North Macedonia and Saudi Arabia. “We had a very […]

Annecy Mont-Blanc to join VINCI Airport’s global network next year

VINCI Airports has added Annecy Mont-Blanc Airport to its global airport network after signing an agreement to resume responsibility for its management, operation and development for the next 15 years from January 1, 2022. All current staff at the French gateway will join the wholly owned VINCI Airports subsidiary handling the Annecy Mont-Blanc Airport concession. […]

Aviation can supercharge the UK’s economy post-Brexit

London Heathrow, desperate to speed up the return of safe international travel, today flagged up a new report by the Centre for Economics & Business Research, which claims that aviation needs to be at the heart of the UK’s future economic growth. The new research highlights how the UK could undergo an economic pivot post-Brexit, […]

FAA awards $8 billion in grants to help US airports recover from COVID

The Federal Aviation Administration (FAA) today announced that it is to award $8 billion in grants to “keep US airport workers employed, construction projects going and help US airports recover from the impacts of the COVID-19 pandemic”. The funding for the grants comes from the American Rescue Plan Act of 2021 President Biden signed into […]

S&P Global Ratings expects cautious recovery for Europe’s airports

In the new edition of its Infrastructure & Energy Outlook magazine, S&P Global Ratings examines how airports and aviation have fared amid a resurgence of restrictions in Europe, and looks ahead to the future of the sector. “The rebound in European air traffic has been delayed, and a more meaningful recovery will now have to […]

Almaty Airport in Kazakhstan joins TAV’s global airport network

Global airport operator, TAV Airports, has officially taken over responsibility for operating Almaty Airport in Kazakhstan. TAV now owns 85% of Almaty Airport and its associated fuel and catering businesses with the Kazakhstan Infrastructure Fund – managed by VPE Capital and backed by Kazyna Capital Management – holding the remaining 15% stake. Almaty is the […]

TAV Airports optimistic despite difficult operating climate

TAV Airports today revealed that its global airport network handled 3.3 million domestic and 1.1 million international passengers during the first three months of 2021. The passenger total is 60% down on the corresponding period last year and was accompanied by a 50% drop in revenues. TAV Airports Holding’s executive board member and CEO Sani […]

BLOG: Robotic cleaners can help airlines be more eco-friendly

Each year airlines begin new sustainability initiatives, experiment with biofuels, and offset their carbon emissions on selected flights; yet, sustainability should not only be a topic of discussion when an aircraft is in the air but also when it’s on the ground. In just one year, a Boeing 777, B787, Airbus A330, and A350, burn […]

VINCI Airports adds seven Brazilian gateways to global network

VINCI Airports has won the 30-year concession to operate and develop seven airports in the north of Brazil – Manaus, Porto Velho, Rio Branco, Boa Vista, Cruzeiro do Sul, Tabatinga and Téfé. Considered the gateways to the Amazon region and neighbouring Brazilian states, the airports welcomed 4.7 million passengers between them in 2019, the bulk […]

Demand for domestic air travel will spearhead US COVID-19 recovery

Leisure travel in America will push the US domestic airline industry to a COVID recovery by early 2022, according to a new report from consulting firm Oliver Wyman. “A year ago, we would have thought that a full domestic recovery in this timeframe for the US was almost impossible, but the combination of pent-up demand, economic […]

Hamburg aiming to bounce back from first ever annual loss

Hamburg Airport today admitted that the coronavirus pandemic has left deep scars in its balance sheet, revealing that the “unprecedented crisis” has resulted in a first-ever annual deficit of €113 million. And the German airport, which saw its passenger numbers drop by 73% to 4.56 million in 2020, notes that without a strict savings programme, […]

UK government urged to approve Arrivals duty free shops at airports

In the UK, a cross-party group of over sixty MPs and Peers have written to the Chancellor calling for the introduction of Arrivals duty free shops at British airports, international rail and ferry terminals. They claim the move would have a hugely positive economic impact for airports and duty free operators in the UK. To […]

Copenhagen Airport renegotiates deal with airlines to kick-start traffic return

Copenhagen Airport (CPH) and its airlines have announced that they have “struck an agreement” that they believe will provide the necessary commercial framework for a restart of traffic and the route network at the Danish gateway. The agreement sets out prices and incentives for flying to and from CPH over the coming years following the […]

Munich Airport’s LabCampus attracts autonomous vehicle technology pioneer

Munich Airport’s LabCampus innovation centre will shortly have a new tenant – one of the world’s leading technology companies in the autonomous driving sector, Argo AI, which is expected to test and develop vehicles on the site. Established in 2016 and headquartered in Pittsburgh, Pennsylvania, the company has partnerships with US car manufacturer Ford and […]

New operator of Blackpool Airport planning for better days

Blackpool Airport has had no commercial traffic since March 2017 and that situation seems unlikely to change anytime soon, but its local council owners are so confident in its future that they have decided to take over the management of UK gateway. The decision, announced today, means that Blackpool Council’s wholly-owned subsidiary, Blackpool Airport Operations […]

London Gatwick admits to ‘renewed optimism’ for 2021

Gatwick Airport’s CEO, Stewart Wingate, today reiterated his confidence in the airport’s ability to bounce back from the toughest year in its history and experience international passenger growth again from the summer. Wingate says: “It will come as no surprise that, like any other international airport, the negative impact of COVID-19 resulted in a financial […]

Heathrow confirms “devastating impact of COVID-19”, but hopeful for better 2021

London Heathrow today revealed that the airport lost £2 billion in 2020 as its passenger numbers slumped from 80.9 million in 2019 to just 22.1 million last year. It notes that the “devastating impact of COVID-19” led to its overall revenue plummeting 62% to £1.2 billion and adjusted EBITDA falling to £270 million. The UK […]

Global ratings agency forecasts tough year ahead for Europe’s airports

Passenger traffic and revenue at Europe’s airports this year is likely to be around 30% to 50% down on 2019 levels, according to a new report by S&P Global Ratings. The global ratings agency’s forecast is based the new travel restrictions implemented to curb the spread of fast-spreading COVID-19 variants, which it claims have “dealt […]

Christchurch Airport well placed to ride out global pandemic

Christchurch Airport is citing lessons learnt from the earthquakes, extensive changes it made to its business across 2015-2019 and its preparation for events like a pandemic, for its ability to pivot to a domestic operating model that can essentially break even while the pandemic’s impact on the borders evolves. The airport has revealed that it […]

Miami International Airport receives COVID-19 relief fund grant

Miami International Airport has been awarded $39.5 million in COVID-19 relief funding from the federal government, in the second round of airport grants from the Federal Aviation Administration. The second grant follows $207 million in funding that MIA received last April from the federal government’s Coronavirus Aid, Relief, and Economic Security (CARES) Act Airport Grant […]

Fraport extends Antalya Airport concession by two years

The Turkish government has agreed to extend Fraport’s management concession for Antalya Airport by two years to the end of 2026 and to defer its annual concession fee for 2022 to 2024. The global airport operator says that the agreement will help the Fraport TAV Antalya joint venture to relaunch Antalya Airport on a steady […]

Airbus signs MoU with India’s GMR Group

India’s GMR Group, a global airport operator and aviation infrastructure developer, has signed a Memorandum of Understanding (MoU) with Airbus to explore collaboration opportunities across aviation services, technologies and innovation. The agreement will see GMR Group and Airbus team up to explore potential synergies in several strategic areas of aviation services including maintenance, components, training, […]

UK government launches aid package for England’s airports

The UK government has unveiled plans to give airports in England up to £8 million each to help get them through the next few months as COVID-19 continues to bring traffic to a virtual standstill across the globe. Under the government scheme opening today, commercial airports and ground handlers could receive a maximum of £8 […]

Vienna’s traffic recovery to begin in second half of year

Vienna Airport is optimistic that its passenger numbers will enjoy a “strong upswing” in the second half of the year as the vaccination drive to combat COVID-19 begins to have a positive impact on air travel. Like most other airports, the Austrian gateway experienced a grim 2020 with the pandemic causing traffic levels to decline […]

New twist for potential third runway at London Heathrow

Whether it ever happens or not is another matter, but a third runway at London’s Heathrow Airport is now potentially back on the agenda following the Supreme Court ruling that the government’s decision to approve its expansion was lawful. Today’s ruling overturns a decision by three leading judges earlier this year that former Transport Secretary, Chris […]

Swedavia secures loan from Nordic Investment Bank

Swedish airport operator, Swedavia, has secured a €49 million loan from the Nordic Investment Bank to help it through COVID-19. The seven-year SEK 500 million loan agreement is a COVID-19 response loan aimed at facilitating financing for industries heavily impacted by the coronavirus pandemic. “The loan helps to further strengthen our liquidity at a time […]

ACI World confirms that airports are set for big losses in 2020

ACI World has published its fifth COVID-19 economic impact analysis revealing the devastating effect on the airport industry and the prospects for recovery. The Advisory Bulletin, The impact of COVID-19 on the airport business, reveals the global airport industry will record a reduction of more than six billion passengers by the end of 2020 compared […]

Job sharing initiative to save further redundancies at Copenhagen Airport

Copenhagen Airport’s operator today revealed that 380 staff are to begin sharing jobs in a bid to reduce further redundancies as a result of the downturn in traffic caused by COVID-19. With traffic currently at less than 10% of normal levels, Copenhagen Airports has just completed negotiations for its second cost-cutting round in only three […]

Adani Group officially becomes newest Indian airport operator

The Adani Group has officially taken over responsibility for operating three Airports Authority of India (AAI) managed airports. The company, which harbours ambitions to become a key player in the Indian market, added Ahmedabad’s Sardar Vallabhbhai Patel International Airport (SVPI Airport) to its airport network at the weekend. The move follows the addition of Mangaluru […]

Survive to transform

The COVID-19 pandemic is without doubt the worst crisis the aviation industry has ever faced and could permanently change the way we travel, writes Armando Brunini, CEO and general manager of SEA Milan Airports. Like other airport operators, SEA Milan Airports, responded to the pandemic by implementing a number of measures aimed at safeguarding the […]

ACI Europe warns that nearly 200 airports facing bankruptcy

ACI Europe today warned that 193 of the continent’s airports face insolvency in the coming months if passenger traffic does not start to recover by the year end. These airports are estimated to support 277,000 jobs and €12.4 billion of Europe’s GDP. According to ACI Europe, unless governments step up and provide support now, Europe […]

Survey provides reminder of economic power of Louisville’s airports

In normal times, Louisville’s airports are responsible for some 82,723 jobs across the region and have an annual economic impact of around $10.4 billion, according to their latest economic impact survey. Key drivers of the local economy, the Kentucky city’s airports – Louisville Muhammad Ali International Airport (SDF) and Bowman Field (LOU) – also usually […]

Munich Airport subsidiary wins cargo concession in El Salvador

Munich Airport International (MAI), the international management and consulting arm of Munich Airport, is to expand its influence to Central America by developing and operating a new cargo terminal at San Salvador’s El Salvador International Airport. MAI, part of the SOF Connect consortium which this summer signed finalised the concession agreement to operate and develop […]

Time to end unfair and economically inefficient aviation taxes – ACI World

ACI World has published a policy brief calling for an end to the “economically inefficient and discriminatory taxation of aviation”, which it believes is hampering the industry’s recovery from COVID-19. The new publication, Policy Brief: Taxation of international air transport and airports – Economic benefits and costs, explores, and provides potential remedies to, the imbalance […]

Millions of jobs at risk unless aviation industry picks up

Up to 46 million aviation related jobs around the world will be lost due to the severe downturn in air traffic caused by COVID-19, followed by a slow recovery, according to new industry figures released today. Under normal circumstances, aviation and the tourism facilitates support 87.7 million jobs worldwide. Over 11 million jobs are within […]

Funding secured for airfield upgrade at Lima’s Jorge Chávez International Airport

Fraport owned Lima Airport Partners (LAP) has signed a $450 million financing agreement for an airside development programme at Peru’s Jorge Chávez International Airport. Four international banks – comprising KfW IPEX-Bank, the Bank of Nova Scotia, Sumitomo Mitsui Banking Corporation (SMBC), and Banco Bilbao Vizcaya Argentaria – are providing the loan. Fraport’s and LAP´s finance […]

Airport community relief package extended in Hong Kong

Airport Authority Hong Kong (AAHK) today announced that its relief package for the airport community will extend for another two months to end of October 2020 in view of the ongoing impact of the COVID-19 pandemic. The coronavirus pandemic and continuing political unrest in Hong Kong has had a huge impact on traffic at Hong […]

London City Airport to pause expansion programme at end of 2020

London City Airport has decided to temporarily pause its Capital Development Programme (CADP) at the end of the year upon completion of new aircraft stands, a full-length parallel taxiway and new passenger facilities. Since recommencing commercial flights on June 21, the airport has welcomed back four airlines, including its home-based carrier, BA City Flyer, and […]

Copenhagen Airports set to reduce workforce as traffic downturn begins to bite

Copenhagen Airports (CPH), arguably one of the world’s best run airport operators, today revealed that its COVID-19 survival plan includes potentially making a quarter of its staff redundant. CPH notes that to “secure its long-term competitive strength”, it will align its organisation to the lower level of activity which the aviation industry is currently experiencing […]

Port Authority to extend cogeneration plant agreement at New York JFK

The Port Authority of New York and New Jersey has agreed to extend its deal with Kennedy International Airport Cogeneration (KIAC) Partners to operate, maintain and upgrade the on-airport heating and cooling facility serving the Central Terminal Area at New York JFK. “The Port Authority is thrilled to continue our partnership with KIAC to bring […]

SOF Connect consortium signs concession contract for Sofia Airport

Sofia Airport will shortly be under new management after the SOF Connect consortium signed the concessionaire agreement for the gateway with the Bulgarian Ministry of Transport. Yesterday’s signing ceremony means that the project has now entered a new phase and SOF Connect partners Meridiam, Strabag and Munich Airport say that they are “looking forward to […]

Asia’s airlines claim more must be done to kick-start international travel

The Association of Asia Pacific Airlines (AAPA) is urging governments to ease what it claims are “unduly onerous restrictions on international air travel” to re-establish global connectivity with evidence-based measures to safeguard public health. More than six months into the COVID-19 pandemic, the Asia Pacific air transport industry notes that it is taking initial steps […]

ACI World data demonstrates economic and social power of aviation

ACI World’s World Airport Traffic Report Dataset covering passenger traffic, cargo volumes, and aircraft movements for 2019 provides a timely reminder of why the world needs a healthy aviation industry. In 2019, the world’s airports accommodated 9.1 billion passengers, 120 million metric tonnes of cargo and more than 102 million aircraft movements while the industry […]

Airport cities can help future proof airports – new report

The development of airport cities can help future-proof airports post COVID-19, according to a white paper issued today by consultants, NACO. The white paper reports that, with almost 90% of airports revenues being passenger-related, there is a clear need for airports to diversify their revenue streams in order to reduce both revenue volatility and the […]

S&P lowers ratings on six European airport operators

S&P Global Ratings today lowered the ratings on four European airports/associated companies (and a further two CreditWatch revisions) as the rating agency anticipates a slower recovery in passenger traffic than first anticipated. The four downgrades are: • Royal Schiphol Group NV (Schiphol). Ratings to ‘A’ from ‘A+’ • Flughafen Zurich AG. Ratings to ‘A’ from […]

All change?

Lufthansa Consulting’s Catrin Drawer and Andreas Jahnke consider what the impact of COVID-19 is likely to be on the investment appeal of airports across the globe. Does COVID-19 mean that airports have finally lost their mantra of being a safe, long-term investment opportunity for investors? The short answer is ‘no’, because airport investments have never […]

Plant-based manufacturer to open complex in Edmonton’s Airport City

Edmonton International Airport’s Airport City continues to grow with the news that manufacturing company, Plant Plus, will shortly become its newest tenant. The company specialises in making plant fibre polymer tech (PFP tech) products such as cups, straws and mobile phone cases that are recyclable and compostable alternatives to plastic or paper. According to Edmonton […]

Swedavia boosted by cash injection from Swedish government

Swedish airport operator, Swedavia, has received a SEK3.15 billion cash injection from the government to help it survive the COVID-19 crisis. Swedavia says that the “contribution” from its shareholder, which amounts to around €300,000, will secure the “financial position” of the state owned company. “We welcome our owner’s support in a very difficult situation. Society […]

Struggle goes on for Europe’s airports

ACI Europe reports that Europe’s airports continued to be at an almost complete stand-still during the month of May, with passenger traffic an alarming 98% down on the same period last year. As a result, only 4.3 million passengers travelled through the European network of 500+ airports in May, compared to 216.8 million last year. […]

Sofia Airport concession ratified by Bulgaria’s Supreme Administrative Court

The Supreme Administrative Court of Bulgaria has ended almost a year of legal wrangling by confirming that Meridiam and its partner, Munich Airport subsidiary Munich Airport International (MAI), has won the concession to operate and development Sofia Airport. The companies make up the SOF Connect consortium awarded the concession by Bulgaria’s Ministry of Transport in […]

COVID-19 traffic downturn costing daa €1 million per day

Irish airport operator, daa, today revealed that it is currently losing €1 million per day and has lost an estimated €160 million in turnover so far this year as a result of the COVID-19 pandemic. It notes that it has operations in 16 countries and that the global pandemic has affected all of its businesses, “which […]

ACC identifies $31.7 billion in renovation related projects at US airports

The Airport Consultants Council (ACC) claims to have identified more than $31 billion in rehabilitation and maintenance projects at 46 US airports, based on responses to one of its surveys conducted earlier this year. In February, it released an updated report providing an overview of more than 100 airports’ upcoming capital development spending needs through […]

Aerotropolis engines beyond Asia

Aerotropolis concept leader, Dr John Kasarda, provides an update of airport city and aerotropolis developments in the Americas, Europe, Africa and the Middle East, and considers the implications of the coronavirus pandemic on aviation and future developments. Last issue, I described how the Asia-Pacific region leads airport city and aerotropolis development. Other world regions are […]

Europe’s airports on their knees – ACI Europe

ACI Europe today warned that the continent’s airports are “on their knees” and facing irreversible consequences unless air travel can restart, in a COVID-19 safe way, this summer. The warning follows a 98.6% drop in passenger numbers in April, when just 2.8 million people passed through Europe’s 500+ airports. “Europe’s airports are on their knees. […]

TAV agrees to buy Almaty Airport in Kazakhstan

Global airport operator, TAV Airports, has agreed a $450 million fee to buy Almaty Airport in Kazakhstan. The main gateway to Kazakhstan is an important junction in the modern ‘Silk road’ and will become the 15th airport in TAV’s global network. TAV confirms that the deal will see it and investment partner, VPE Capital, purchase […]

COVID-19 detection trials to start at London Heathrow

Heathrow CEO, John Holland-Kaye, has told the UK’s House of Commons Transport Committee that COVID-19 detection trials are to start at his gateway as beleaguered Britain steps up its battle against the coronavirus. According to the airport, a key motivation is the desire to drive forward the development of a Common International Standard by trialling […]

Aviation’s need for financial assistance now urgent

The associations of the world’s airports and airlines today joined forces to urge governments to act swiftly with financial grants to help keep their members survive the coronavirus crisis. ACI World and IATA believe that financial aid is vital to assist airport operators and airlines during the unprecedented COVID-19 crisis, and support the essential connectivity […]

Europe looking at ways to restore air connectivity

ACI Europe has today called for full EU co-ordination and alignment on how current restrictions to air travel should be lifted. The call comes as a number of European states have begun to work on the progressive lifting of confinement measures. EU transport Ministers are also due to meet tomorrow to address the challenge of restoring […]

ACI reminds world about economic importance of aviation

ACI World has provided a timely reminder about the importance of aviation to the global economy by revealing that the industry generated close to $180 billion in revenue in 2018. The significant sum will, of course, be in stark contrast to this year, with the association predicting that airport revenues could fall by up to […]

Federal funding for Miami International Airport

Miami International Airport (MIA) is to receive $207 million in funding from the federal government to help it get through the coronavirus crisis. The payment, the biggest in Florida to date under the US government’s Coronavirus Aid, Relief, and Economic Security (CARES) Act Airport Grant Program – will be used to support the airport’s ongoing […]

Cargo volumes soar at Ontario International Airport

Ontario International Airport (ONT) in southern California has become the latest gateway to report a huge rise in cargo volumes since the start of the coronavirus crisis. The airport admits that while its terminals have been quiet for much of last month, air cargo shipments into and out of ONT soared by 22% in March, […]

The A-Z of global airport operators

Joe Bates find out more about the ambitions, business philosophies and development plans of 28 operators with a global portfolio of airports. Airports Company South Africa (ACSA) World Headquarters: Johannesburg, South Africa. Airports 100% owned and operated: Johannesburg-OR Tambo, Cape Town, Durban–King Shaka, Upington, East London, George, Kimberley, Port Elizabeth and Bram Fischer (Bloemfontein) airports […]

Fantastic journey!

AviaDev Europe’s managing director, Juraj Toth, discusses the economics of route development and the global value of aviation. In the past few months, the aviation industry has become an easy target in the global fight against climate change. People all around the world, but especially in Europe, have been pointing fingers at air transport as […]

Hong Kong airport’s CEO and executive team to take pay cuts

Fred Lam, the CEO of Airport Authority Hong Kong (AAHK) has agreed to take a voluntary 20% pay cut for six months as part of the latest measures to help Hong Kong International Airport get through the coronavirus crisis. “The entire aviation industry is facing unprecedented difficulties because of the COVID-19 pandemic,” explained Lam. “The […]

Aerotropolis business magnets

How are the world’s airport city/aerotropolis developments faring? Some hugely ambitious projects in the Asia-Pacific region come under the microscope in the first of a two-part global review by Dr John Kasarda. Today’s airports are powerful business magnets and metropolitan region economic accelerators. Functioning much like central train stations of our urban past, they increasingly […]

Corporacíon América Airports outlines revised 2020 business plan

Global airport operator, Corporación América Airports (CAAP) has announced that it experienced a 14.6% drop in EBITDA in 2019 and outlined a number of business measures designed to guide it through the coronavirus crisis. Fiscal highlights in 2019 are said to include a year-on-year rise of 9.3% in consolidated revenues to $1.5 billion, while passenger […]

Singapore Changi to consolidate terminal operations from May 1

Singapore Changi has become the latest airport to announce plans to downsize its operations during the coronavirus crisis, closing Terminal 2 from May 1. Operator, Changi Airport Group (CAG), says that move is in response to “the steep decline in passenger traffic and the likelihood that air travel demand will not return to pre-Covid-19 levels […]

THE BUYING GAME

Simon Morris, vice president at ICF International, reviews some of the major airport transactions of last year and speculates what deals could be in store for 2020. Last year confounded the airport transaction pessimists with a high volume of good quality assets sold at healthy prices. And, although secondary sales predominated, there were nonetheless some […]

ON THE MAP

The utilisation of geographic information system (GIS) mapping technology has helped Reno- Tahoe International Airport become an economically competitive hub, writes Esri’s Terry Bills. Airports play an increasingly important role in connecting economies, strengthening global supply chains, and driving regional development. Owned and operated by the Reno-Tahoe Airport Authority (RTAA), Reno-Tahoe International Airport (RNO) currently […]

Beyond borders: daa international

Irish airport operator, daa, has business interests across the globe courtesy of its wholly owned subsidiaries, writes daa International CEO, Nick Cole. The daa Group is made up of four distinct businesses; Dublin Airport, Cork Airport, daa International and Aer Rianta International. My company, daa International, is a wholly owned subsidiary of daa plc, whose […]

GOING GLOBAL

Joe Bates finds out more about the history, plans and future ambitions of a handful of global airport investors at different stages of their development and investment cycles. The news that owner, Global Infrastructure Partners (GIP), is set to pocket close to £3 billion later this year from the sale of a 50.01% stake in London’s Gatwick […]

THE BUYING GAME

Modalis chief executive, Curtis Grad, provides his annual review on private-sector investment in the global airport market, taking stock of 2018’s biggest deals, success stories and other transactions that didn’t quite get across the line. In terms of the number or size of transactions, 2018 was far from a banner year for the industry, although […]