ECONOMICS & FINANCE
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 […]
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 […]
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 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 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 (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 […]
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 […]
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 […]
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’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 […]
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 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 […]
