Traffic development at Munich Airport in the 2021 financial year was still heavily influenced by the effects of the global Covid-19 pandemic. The bottom line is a big minus.
FMG's Group-wide sales amounted to EUR 601 million last year. The operating result before interest and taxes (EBIT) was –286 million euros and was thus almost 120 million euros better than in the previous year. In the annual result (EAT), FMG recorded a minus of 261 million euros and was thus able to improve on the previous year's loss by around 60 million euros or 19 percent. Nevertheless, the deep red result reflects the effects of the crisis that are still being felt. With a passenger volume of 12,5 million travelers, the airport recorded an increase of more than twelve percent compared to the previous year, but still fell far short of the record result of around 48 million passengers in 2019.
Turnaround expected for the current year
As the management of Flughafen München GmbH (FMG) explained at today's annual company press conference, there are signs of a significant recovery in traffic development in the current year. The volume of traffic at Munich Airport during the Easter holidays that had just ended, with a total of around 13.000 flights, was already around 70 percent of the figure for 2019. “Overall, we expect a significant increase in flight movements and passengers in 2022. According to our estimates, a full return to the pre-crisis level can be expected at Munich Airport in 2024," said CEO Jost Lammers.
In addition to the increase in traffic compared to the first Corona year, the countermeasures taken by FMG in response to the crisis also contributed to this improvement in earnings. As pointed out by Nathalie Leroy, FMG Managing Director for Finance and Infrastructure, these efforts have managed to limit the airport's losses and to maintain its liquidity and sustainability over the long term. Leroy continues: "We are well prepared for the challenges that lie ahead in the reconstruction of our Munich Airport as a premium hub for international air traffic."
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