ECONOMICS & FINANCE
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 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 […]
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 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 TĂ©fĂ©. Considered the gateways to the Amazon region and neighbouring Brazilian states, the airports welcomed 4.7 million passengers between them in 2019, the bulk […]
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 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, […]
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 (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 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 […]
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 […]
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 […]
London Heathrow today revealed that the airport lost ÂŁ2 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 ÂŁ1.2 billion and adjusted EBITDA falling to ÂŁ270 million. The UK […]
