SWITZERLAND. Zürich Airport has said that international travel will remain “at a low level over the Winter months” as COVID-19 case numbers rise in many European markets and as quarantine measures hold back growth.
In a trading update the airport company said: “While in August an increase to around 50% of the previous year’s capacity was predicted for year-end, the expectations for the winter months are currently significantly lower”. Now Zürich Airport expects 8 to 9 million passengers for 2020 as a whole, compared to 31.5 million in 2019.
The company also reported that retail and dining turnover fell by -68.9% year-on-year in October to CHF16.5 million (US$18 million), with a slide of -81.3% in airside sales and -49.8% landside.
Airside spend per departing passenger reached CHF25.70 (US$28.07), up by +14.8% year-on-year, though off a much reduced passenger base. Passenger traffic fell -83.7% to 468,616 in the month.
In the first ten months commercial turnover hit CHF204.4 million (US$223.24), down by -59.4%. Average spend rose +3.3% to CHF23 (US$25.12).
On recovery in the commercial business, the airport company said: “While the business landside is recovering more quickly, the situation for our partners on the airside is still challenging. Individual agreements on minimum annual guarantees (MAG) for the current year have been made with the majority of the commercial partners. The agreements increase planning security both for the commercial partners and for Flughafen Zürich AG.”
It also highlighted positive news for its real estate business with last week’s opening of lifestyle and business complex The Circle.
Within its international business, key projects include a new terminal in Iquique, Chile, which will be completed next year. Construction of the new Delhi Noida Airport will also begin under a 40-year contract.
Zürich Airport said it is optimistic about the medium term. “The traffic mix with a high proportion of local passengers, a strong home carrier and the robust Swiss economy create favourable conditions for returning to pre-crisis levels in the coming years.”
