20-Dec-2010 1:27 PM

Quarter of airports report net loss: ACI 2010 survey

ACI released (17-Dec-2010) its annual airport economics survey for 2010, which showed that of the 646 reporting airports, 165 airports (25%) reported a net loss in 2009. At the EBITDA level, 35 airports, (6%) reported losses in 2009. ACI 2010 airport economics survey also reported the following financial highlights in 2009:

  • Revenue: USD95 billion, -2% year-on-year;
    • Aeronautical: USD51 billion, -2.5%;
    • Non-aeronautical: USD44.2 million, -1.5%;
      • Commercial: +3%;
        • Retail: +2%;
        • Real estate: +10%;
        • Car rental concessions: +9%;
        • Food and beverage: +7%;
      • Car parking: -3.5%;
      • Advertising: -11%;
  • Capital expenditure*: USD34.6 billion;
  • Passenger numbers: -2%;
  • Cargo volume: -8%;
  • Long-term debt: upwardly revised from USD240 billion to USD280 billion;
  • FY2010 forecast:
    • Passenger numbers: +6%;
    • Cargo volume: +15%;
    • Capital expenditure: USD38.5 billion, +11%. [more]

*Excludes new (greenfield) airports and capital investments in the Middle East and China

ACI: "As background on the financial results in 2009, it is important to consider the traffic trends during the reporting period. The first quarter of 2009 represented the peak of the crisis for air travel with a 9% decline in passengers and 20% decline in air freight. Results were improving steadily over the following quarters and the year wound up with 3.5% growth in the fourth quarter. Overall, the airport industry concluded the year 2009 with a 2% decline in global passenger numbers and a more severe 8% drop in air freight.” Angela Gittens, Director General. Source: ACI, 17-Dec-2010.

ACI: “The outlook on 2010 financial performance of the airport industry is positive. Global passenger numbers are expected to rise by 6 percent in 2010 while freight volumes will increase by over 15 percent. 2010 turned out a much better year than expected as GDPs expanded robustly and unemployment did not exacerbate the situation. Consumer and business confidence is positive and the propensity to travel remains high. Demand for premium travel has returned as companies make profits once again,” ACI statement. Source: ACI, 17-Dec-2010.

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