The Prague Airport Group stopped losses, and last year increased connections and the number of passengers handled
12.06.2022 7:34 | Press Release
The Prague Airport Group reported an operating profit (EBITDA *) of CZK 145 million in 2021. The past year has been challenging again due to the ongoing Covid-19 pandemic.
This also affects the handling of passenger and aircraft handling services provided by the subsidiary Czech Airlines Handling. The decline in traffic and renewed partial uncertainty in the market also affected the aircraft maintenance segment provided by Czech Airlines Technics.
According to ACI Europe, air transport in the Czech Republic, as well as in Finland, the United Kingdom and Ireland, was negatively affected the most of all European countries. Although the first quarter was critical in terms of the number of passengers carried, in the summer months the interest in travel increased, especially among the inhabitants of the Czech Republic, and thanks to this, Prague Airport handled almost 4.4 million passengers in 2021.
“Even from the point of view of operating management, we can be slightly optimistic, because we achieved a slightly positive result and we stopped further deepening of our company’s indebtedness. The year 2021 was also marked by the renewal of connections and an increase in the number of frequencies to already served destinations. We have welcomed five new carriers and added connections to six brand new destinations, including remote exotic destinations. The German carrier Eurowings opened its operating base in Prague in November, “says Jiří Pos, Chairman of the Board of Directors of Prague Airport, last year.
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The gross operating profit (EBITDA) of Letiště Praha, which operates the largest international airport in the Czech Republic, reached CZK 190 million. Ensuring the safe and reliable operation of the airport continued to be a priority. The airport again used less traffic to modernize and repair airport infrastructure, which was suspended in 2020. “We also put the emphasis on sustainable development. Related to this is the support of the financial stability of the entire group. We have concluded a credit facility of seven billion crowns with a consortium of banks. We will also partially finance the provision of sustainable development, “adds Jiří Pos.
Czech Airlines Handling (CSAH), which provides comprehensive ground handling services for passengers, aircraft, cargo and mail at Václav Havel Prague Airport, achieved a gross operating loss of CZK 47 million in 2021. “Even for us, the effects of the pandemic have continued. Nevertheless, we managed to gain new customers. Among them are the airlines Finnair, EgyptAir. On November 1, 2021, the German carrier Eurowings, which is our long-term customer, reopened its base in Prague with two A319 aircraft. The segment of cargo handling continued to grow, which is a trend we have been following since the beginning of the pandemic. Czech Airlines Handling, as also succeeded in the tender for the use of airport infrastructure and storage of aviation fuel. A new aircraft performance agreement was signed with ÖMV, ”says Tomáš Svoboda, Chairman of the Board of Directors, assessing the company’s performance over the past year. The company pays attention to quality and safety, which has long been confirmed by the international certification of ISAGO handling services, which it holds and which it defended in 2021.
The gross operating profit of Czech Airlines Technics (CSAT), which provides maintenance and repairs of aircraft and aircraft technology in Prague, reached the value of 2 million crowns in 2021. “The first part of the year was marked by the contract, and this strongly affected its setting. Finally, we continued the newly introduced aircraft parking service and expanded our cooperation with leasing companies in the segment of overhauls of aircraft undercarriages and heavy maintenance, and in the second half of the year it fully utilized the entire capacity, “says Pavel Haleš, CSAT Chairman of the Board. The same trend was confirmed in the main maintenance implementation, in which it continued to contract for contractual partners across all segments. Czech Airlines Technics, as, obtained a new authorization and at the same time orders for the Boeing B737MAX and Airbus A320neo in the heavy maintenance segment and also concluded a new long-term contract with Austrian Airlines. Czech Airlines Technics, as, has carried out 33 overhauls of chassis, which is the highest number of projects in history and in the line maintenance segment it now supports the base carrier Eurowings.
The Prague Airport Group consists of the key companies Letiště Praha, as, Czech Airlines Handling, as, and Czech Airlines Technics, as. The sole shareholder of the subsidiaries CSAH and CSAT is Letiště Praha, which is 100% owned by the Ministry of Finance of the Czech Republic.
The EBITDA of the key companies of the Prague Airport Group in 2021 was:
* EBITDA – profit before depreciation, interest and taxes
You can also find other current information on the Prague Airport Twitter HERE.
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author: Press Release