Hamburg Airport reviews year of corona

31 March 2021

First negative result in 25 years - high hopes for summer business as airport eyes CO2-neutrality from late 2021

The pandemic has dealt a severe blow to aviation and Hamburg Airport is no exception with a deficit of EUR 113 million in 2020, a press release said Monday (March 29, 2021). Passenger traffic slumped by an unprecedented 74 per cent year-on-year to around 4.6 million passengers. Aircraft movements fell by around 57 per cent to around 66,300 take-offs and landings over 155,200 flights in 2019. "Aviation has effectively been in lockdown for a year," said Michael Eggenschwiler, CEO of Hamburg Airport. Hopes are now pinned on this year’s summer business.

Airport "pulled emergency brake" in March 2020

The airport has earned profits for at least 25 years, said Eggenschwiler, adding: "We now have to present our first negative result which is a bitter blow. We have pulled the emergency brake and cut all costs to an absolute minimum." The airport announced short-time work in March 2020 and has postponed or halted investment projects such as the rear of Pier South or the completion of the shuttle gates. Yet, Hamburg Airport still aims to become CO2-neutral by late 2021.

Revised forecast for 2021 - hopes for summer travel

The airport is expecting a deficit of EUR 90 million this year and has revised down earlier estimates of 8.5 million passengers in 2021 to 7.5 million passengers. Eggenschwiler expressed optimism about summer business: "I am sure that summer travel by air will be possible again with the combination of tests and vaccinations. But things have to become much easier for passengers and a digital EU vaccination passport is the right approach."
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