State of the Industry address points to business transformation challenge as airports nudge back into the black
Olivier Jankovec’s State of the Industry address, delivered in Barcelona at the association’s 33rd Annual Congress and General Assembly, packed its usual punch, this year headlining with airports nudging back into profit despite over €20 billion in accumulated losses since 2019.
As was highlighted by political barometer Politico that day, the €6.4 billion net profit was only achieved with airports “already doing what they can to balance the books” with passenger traffic volumes remaining 21% down on pre-pandemic levels. Jankovec argued that the twin determinants of a new aviation market structure and the decarbonisation imperative are reshaping the airport business model, with the key challenge for European airports being the decoupling of financial viability and profitability from volume growth.
More details of Jankovec’s analysis can be found here.
