Airports nudge back into black – with business transformation challenge ahead
Source: ACI Europe After more than €50 billion in foregone revenues and over €20 billion in accumulated losses since 2019, Europe’s airports were back in the black last year – posting a net profit of €6.4 billion. This opening salvo from ACI EUROPE’s Director General, Olivier Jankovec, in his annual State of the Industry address today opened the 33rd Annual Congress and General Assembly in Barcelona with a much-needed message of positivity. This performance was achieved in a context where passenger volumes still remained 21% below pre-pandemic (2019) levels. It was primarily driven by airports delivering cost efficiencies despite unprecedented inflationary pressures and significantly slashing investments - with capital expenditure decreasing by -€5.5 billion. Another key contributing factor was airports [...]