Growth in air traffic brings Bavarian hub back on track
A dynamic traffic development brought Munich Airport significantly improved financial results in fiscal year 2022.
With a passenger volume of 31.6 million passengers – 19 million more than in the…
A dynamic traffic development brought Munich Airport significantly improved financial results in fiscal year 2022.
With a passenger volume of 31.6 million passengers – 19 million more than in the previous year – the airport already reached around 70% of its pre-crisis level.
Revenue doubled year-on-year
Revenue was almost doubled year-on-year to around EUR 1.2 billion. Earnings before interest and taxes (EBIT) amounted to EUR –28 million, an improvement of EUR 258 million on the previous year. Munich Airport posted earnings after taxes (EAT) of EUR –59 million, thus reducing the previous year’s loss by around EUR 200 million.
Economic turnaround thanks to positive traffic
As the CEO of FMG, Jost Lammers, emphasised at the company’s annual press conference today, Munich Airport has also achieved an economic turnaround thanks to the positive traffic development in 2022. Lammers commented: “We expect this encouraging trend to continue in the current year, too.
In 2023 we anticipate another significant increase in our revenue, opening up the prospect for us to return to the black already in the fourth year after the start of the worst crisis in the history of aviation.”
Traffic between Munich and US higher than pre-pandemic
The positive traffic development was particularly attributable to connections to North America: Since July 2022, traffic between Munich and destinations in the US has even been higher than the pre-pandemic level. With the start of last winter’s flight schedule, traffic on routes between the Bavarian capital and Asian destinations also increased again.
This growth in travel to Asia will continue in 2023 as Chinese destinations are added. Lammers sums up: “We have regained our position as a premium international hub. One clear indication of this is that we increased the number of our intercontinental passengers almost fivefold compared to the previous year. This year, our passenger numbers will reach around 80% of their pre-crisis level again.”Subscribe to the FINN weekly newsletter
