Geneva Airport increases revenue and profit in 2023
Published: Tuesday, Mar 19th 2024, 10:10
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Geneva Airport continued to recover from the coronavirus slump in 2023. Both turnover and profit climbed by double-digit percentages.
Thanks to higher passenger and traffic volumes, turnover in the aviation and non-aviation sectors increased by just under 16% to CHF 489.6 million, as the airport operator announced on Tuesday. The share of aviation revenue, such as take-off and landing fees, remained unchanged year-on-year at just under 59 percent.
As a result, the company's net profit climbed by around 40% to CHF 88.6 million. At the same time, the operating profit margin at EBITDA level improved by 1.2 percentage points to 38.6%.
The airport attributes this to higher fees for the airlines and good cost control. As in previous years, the airport delivers half of its net profit to the canton of Geneva. In the previous year, the share to be transferred was reduced to 25 percent due to the consequences of the pandemic, and the company was in the red in 2020 and 2021.
The number of passengers was already known. In Geneva, these grew by 17% last year to 16.5 million. As in Zurich, this was only 8% below the pre-pandemic figures.
The most important airlines in the previous year remained easyJet with a good 46% share of total traffic, followed by Swiss with a good 12% share.
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