After more than €50 billion of lost revenues and more than €20 billion of accumulated losses since 2019, European airports returned to profit last year, posting a net profit of 6.4 billion euros.
These are some of the data provided by the general manager of ACI EUROPE, Olivier Jankovecin his annual state of the industry address that opened the 33rd Annual Convention and General Assembly at Barcelona with a much needed message of positivity.
Investments
This performance it was achieved in a context where passenger volumes still remained 21% below pre-pandemic levels (2019). The results were mainly driven by the airports that bid efficiencies in terms of costs despite unprecedented inflationary pressures and significant cuts in investment, with capital expenditure down by -5.5 billion euros.
Another key contributing factor was the collaboration of airports with their business partners to capture the momentum in consumer spending to boost theirs non-aviation revenuesespecially from the retail and food and beverage businesses.
The challenges for airports
The president of ACI EUROPE Javier Marin instead it provided a resolute analysis on the current ones challenges policies e normative faced by European airports as they build a resilient and sustainable industry for the future. To the 33rd Annual Congress and Assembly general of the association, held this year in collaboration with the sister organization ACI World a BarcelonaMarín spoke frankly about the key issues of aviation decarbonization, revenue generation and airport slots.
“We absolutely have to increase the production Of SAF in Europe and close the price gap with conventional fuels. This requires concrete and implementable support beyond what is currently intended to counterbalance the very effective US approach of multiple tax breaks.
This involves ensuring that SAFs are designated as “strategic net zero technology” under the EU Net Zero Industry Act and benefit from related regulatory support. This also means that European states urgently need to work on their national SAF procurement strategy together with industry and provide direct financial support,” stressed the president of ACI EUROPE.
Environmental protection
ACI EUROPE also announced a renewed and strengthened commitment to net-zero carbon emissions with more European airports than ever committed to reaching the decarbonization of emissions under their control by 2050. The committed airports have exceeded 300 throughout Europe, more than 50 airports that have joined for the first time.
In addition, more than 130 airports are ready to fully decarbonise the emissions under their control by 2030 or sooner. In addition to SAFs, Marin noted, “Achieving thenet zero will involve a cost additional net of more 820 billion euros for European aviation: this is a cost that no sector can bear alone”. (Ticker)