ECONOMICS & FINANCE
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 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 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 […]
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 […]
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, […]
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 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 […]
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 […]
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 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 […]
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 […]
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 […]
