Aena reports traffic drop of nearly 70% for first nine months of 2020

Aena reported (28-Oct-2020) a net negative result of EUR107.6 million for the first nine months of 2020, which it attributed to the COVID-19 crisis and associated travel restrictions. Details include:

• Spanish airport network passenger traffic decreased 69.7% year-on-year to 64.9 million;
• Passenger numbers including London Luton Airport and Aena's six Brazilian airports decreased 68.7% to 74.6 million;
• The traffic decline commenced in Mar-2020 and became more pronounced in spring with declines of up to 99%. Traffic gradually picked up in summer following the end of the state of emergency in Jun-2020 and the reopening of EU/Schengen borders, but fell again from mid Aug-2020 with the second wave of COVID-19 and resulting travel restrictions, quarantines and other measures;
• Airport income decreased 63.6% to EUR811.6 million due to the decline in traffic;
• Aena is continuing with its cost cutting programme and saved EUR157.1 million in 2Q2020 and EUR127.3 million in 3Q2020;
• The company introduced an "extraordinary" incentive package for airlines to drive the recovery of operations during winter 2020/2021, effective 01-Nov-2020 to 31-Mar-2021. [more - original PR]