Every fourth airport of Europe was threatened with insolvency due to the pandemic

Created on 12.11.2020 10:46

European airports may face financial crash in the coming months if passenger traffic does not recover by the end of the year, Interfax writes. Airports Council International of Europe (ACI Europe) estimates 193 of 740 airports in the region may encounter difficulty in remaining solvency without government support. The risk zone includes mainly small and regional airports, but these airports provide 277 thousand workplaces, the message says.

“Figures released today are describing extremely the bleak picture. Over eight months after the crisis, all European airports are spending money to keep operating, but revenues do not even cover operating costs, not to mention capital costs”, said Olivier Jankovets, CEO of ACI Europe. 

Airlines and airports relate to companies whose are affected by the COVID-19 crisis. According to ACI Europe, passenger traffic at European airports in September fell by 73% compared to the similar month last year. Since January this year, European airports have lost 1.29 billion passengers. Paderborn Airport in Germany has already declared insolvency at 85% reduction in passenger traffic in September.

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