Thursday, February 15, 2024
More passengers led to an increase in net revenue of SEK 1.1 billion compared with the previous year. Commercial revenue per passenger also continued to increase as a result of our updated commercial strategy, including the new marketplace at Arlanda. As the number of passengers increased, so did costs, which were also pushed up by inflation. The company’s operating income continues to develop positively and cash flow from operating activities was positive during the final three quarters of the year. As travel increases, we will continue our efforts to return to sustainable profitability, says Jonas Abrahamsson, President and CEO of Swedavia.
In 2023, Swedavia’s ten airports witnessed a significant surge in passenger traffic, with over 32 million travelers passing through. This marks a notable 17 percent increase from the previous year and signifies a remarkable recovery to approximately 80 percent of pre-pandemic levels. International travel saw a robust 19 percent uptick, reaching nearly 24 million passengers, while domestic travel also experienced a healthy 10 percent rise.
Throughout the year, Swedavia expanded its network by adding close to 40 new routes and introducing nine fresh destinations across its airports. Key players such as SAS, Ryanair, and Eurowings led the way in introducing these new routes. Notable highlights included the return of United Airlines with a New York to Stockholm Arlanda Airport route, the establishment of operations by Wizz Air at Arlanda in autumn, and the introduction of operations by Royal Jordanian Airlines at Arlanda as well.
Swedavia’s financial performance also exhibited positive trends, with net revenue for the year reaching SEK 5,931 million, marking an increase of SEK 1.1 billion compared to the previous year. Operating income showed improvement, totaling SEK -318 million, a positive shift of SEK 465 million from the previous year. Cash flow from operating activities also saw improvement, reaching SEK 766 million, a notable increase of SEK 225 million compared to the previous year. However, operating income for the fourth quarter amounted to SEK -266 million.
In 2023, Swedavia continued to implement its new commercial strategy, emphasizing an accessible, diverse, and expansive commercial offering. The inauguration of the first phase of the new Marketplace at Arlanda, along with enhancements to the offerings at Göteborg Landvetter Airport, Malmö Airport, and Luleå Airport, underscored this commitment. Additionally, the deployment of state-of-the-art security control at Arlanda resulted in significantly reduced waiting times, with passengers passing through security in around two minutes on average during December, contributing to heightened passenger satisfaction.
As travel increases, we can see how our investments in an enhanced commercial offering and strong operational delivery are helping to achieve improved earnings and more satisfied passengers. We will continue to drive the development of our airports, but ensuring our competitiveness also requires action at national level. It is high time there was a review of the national policy instrument that is aviation tax, which directly reduces competitiveness and inhibits the vital climate transition of aviation. Among other things, the aviation tax limits opportunities to attract the direct intercontinental routes that are needed to ensure Sweden’s connectivity, says Jonas Abrahamsson.
Saturday, April 27, 2024
Saturday, April 27, 2024
