ACI EUROPE welcomes recommendation to allow recovery of financial losses

A new report from the Forum of European Union Economic Regulators has concluded that airports should be allowed to recover their financial losses, having faced disproportionate risk from the impact of the COVID-19 pandemic. The analysis, produced by the so-called ‘Thessaloniki Forum’, makes clear that European authorities should allow recovery of losses or account for changes in the future cost of capital. This action from regulators will help stabilise airports’ financial situations and allow for sustainable investment and innovation.

ACI EUROPE’s Olivier Jankovec called the report’s conclusions “a long-awaited glimmer of economic common sense”, and called upon European ISAs and civil-aviation authorities to act upon the expert guidance as the industry strives towards recovery. “COVID-19 was a black swan event” he said. “By any definition, it was an extraordinary circumstance. ACI EUROPE has been frankly appalled by some of the actions taken by governments as they have propped up some part of the sector at the expense of others. This is a welcome signal that we can look to a future with more balance in this respect”.

The report can be accessed here.