TAV first indication of airport operator's 1Q2020 financial results
The first airport financial statements for 1Q2020, the most significant quarter (so far) in air transport post-war history, are being published, and as is often the case Turkey's TAV Airports is first off the block.
TAV has attempted to contain costs but only managed -10% while revenues fell by more than twice that amount. Nevertheless, in the growing anticipation that some international flights will recommence in Jun-2020 the statistics for this quarter do not look as bad as they might and hint at what a third quarter might look like with, hopefully, better results thereafter.
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