According to estimates, Prague Airport will reduce its loss to about a billion crowns last year
Updates: 02/01/2022 18:06
Released: 01.02.2022, 18:06
Prague – According to preliminary estimates, Prague Airport ended up with a loss of over a billion crowns last year, when the group’s total loss last year was 2.3 billion crowns. Last year’s airport should then be around 3.2 billion crowns, it remains about two billion less. In an interview with the server e15.cz This was stated today by the head of Prague Airport, Jiří Pos. The airport handled almost 4.4 million passengers last year, but a fifth more, still well below pre-coronavirus pandemics.
Before the crisis in 2019, Prague Airport had a profit of over 2.7 billion crowns and a turnover of around 11.5 billion crowns. The exact financial numbers for 2021 will be available to the company in a few months. The reason for last year’s losses of more than a billion was traditionally high depreciation. On the other hand, operating profit before tax, interest and depreciation (EBITDA) slightly exceeded the 100 million mark last year and is expected to grow to one billion crowns this year.
According to Pose, the situation should gradually improve, but the airport expects this year as well. According to current assumptions, this year’s loss should amount to around 400 million crowns, and turnover should increase to approximately 4.6 billion crowns. It should not return to profit until next year.
“Our optimism stems from dealing with military companies and their demand for slots. Most companies are returning to pre-target capabilities,” Pos said. He believes that after the current covid-19 variant fades, aviation will return to growth from April.
In the summer flight schedule, the airport counts on a number of renewed routes. Among them should be renewed flights to the USA from United and Delta airlines to New York even after two years. According to Pose, negotiations on new routes to Saudi Arabia and Kuwait are also taking place, and in the autumn, the connection to Seoul from Korean Air could return. The airport is also negotiating the direct launch of flights from Prague to Vietnam, which were previously postponed due to the pandemic by Bamboo Airways.
Due to the increase in traffic, the airport is also preparing several investments. This year and next year, an investment limit of 1.5 billion crowns is expected, which will go mainly to repairs and maintenance of equipment.
Václav Havel Prague Airport handled 4.38 million passengers last year. In 2019, before the outbreak of the coronavirus crisis, the airport handled over 17.8 million passengers. During the year, 138 destinations were flown from Prague. This year, the airport expects gradual growth, the airport management has set a goal to handle around 8.6 million passengers for the whole year.