Budapest Airport books EUR 110 mln loss in 2020

Transport

Image by Budapest Airport

Ferenc Liszt International operator Budapest Airport said it racked up a EUR 110 million loss in 2020 as revenue plunged because of travel restrictions related to the pandemic, state news wire MTI reports.

Net sales revenue declined 65% to EUR 118 mln as passenger numbers dropped 76%, but cargo turnover reached a new record.

"In spite of the unprecedented difficulties, however, the operation and financing of the company remain continuously stable and its continued liquidity is well ensured," Budapest Airport said.

The operator said its "financially strong owners" are "committed to the airport in the long run" and had plowed back 2019 profits into crisis management. Spending on developments came to EUR 81 mln, it added.

"Following a year when many airlines and airports globally have received significant state support packages, Budapest Airport has weathered 2020 successfully solely with its own resources, and is currently financially extremely stable," CEO Chris Dinsdale said.

"As the pandemic eases, we see a bright future ahead. The recovery has started, and we have begun hiring the manpower necessary for this. The airport is prepared to welcome moderate levels of traffic this summer, while 2022 is expected to again be a busy year, with high levels of passengers," he added.

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