Airports Council International said Europe’s airports made a net profit last year of €6.4 billion despite losing more than €20 billion during the pandemic. ACI said the result was achieved despite passenger numbers still being 21% below 2019 levels.

Addressing the ACI Congress in Barcelona, director general Olivier Jankovec said cost efficiencies and lower investment had allowed airports to return to profit.

However, he warned the sector’s debt burden had soared €47 billion above pre-pandemic levels, adding: “Despite the fact that the price of air travel for consumers has ballooned, charges paid by airlines for the use of airport facilities tend to remain below cost coverage.

“While the air fares charged by airlines have increased by 32% compared to pre-pandemic prices, airport charges are up by just 7% – meaning they have actually decreased in real terms.”

Jankovec claimed the situation was “therefore not sustainable”.

“What is at stake here is airports’ ability to invest in their decarbonisation, resilience, digitalisation and capacity where needed. Looking at 2023 and the next two years, Europe’s airports already cut planned investments from €34.6 billion to €18.4 billion. The investment crunch is not for tomorrow – it is already a reality.”

He said the only “logical way forward” was adherence to the ‘user pays’ principle. 

 
“Regulators and governments need to accept the fact that cost pressures and investment needs require an upward adjustment of airport charges,” he said.