Third quarter strongly affected by the pandemic
Avinor's result and solvency will be strongly negatively affected by the corona pandemic in 2020, and there will be a need for capital injections beyond what has already been implemented. Avinor has an ongoing dialogue with the owner about measures to strengthen the group's equity, also for 2021.
Air traffic in the period 01.01 - 30.09.2020 measured in number of passengers over Avinor airports was reduced by 59 percent compared with the corresponding period in 2019. In the third quarter alone, the decrease was 67 percent passengers, and the number of air movements in the third quarter was down 38 percent.
Operating revenues compared to the same period last year have been reduced by almost 70 percent, while operating costs have been reduced from NOK 2,115 million to NOK 1,743 million. The group's profit after tax amounted to minus NOK 356 million, compared with NOK 770 million in the third quarter of 2019.
The work of facilitating good infection control that provides a good and safe travel experience has a high priority.
Avinor works to ensure continuity and ongoing operations during the corona pandemic. A program has been implemented that seeks to find more cost-effective solutions for the business.
-The goal is to become a profitable Avinor again as soon as possible, of course with a focus on maintaining safe and stable operations. Cost reductions are being implemented as well as measures to ensure the group's financial solvency in the longer term, explains CEO Dag Falk-Petersen.
At the end of the third quarter of 2020, a total of 312 employees were fully or partially laid off in the Avinor Group. The investment level has been reduced by NOK 1 billion and is adapted to the financial situation the company is in.
Loss of income between NOK 7-8 billion
To remedy the airlines financially, the Government suspended the vast majority of Avinors' airport charges in the period from 13 March to 31 October 2020. Based on available information and updated forecasts, a revenue loss of around NOK 7 to 8 billion is estimated for the 2020 financial year.
On 19 June 2020, it was decided in the Norwegian Parliament to give Avinor grants of up to NOK 4,270 million, as well as to grant a one-year deferral of the installments on the company's government debt. As of the end of September, NOK 2,570 million has been paid out, of which NOK 2,500 million has been recognized as a subsidy from the state and NOK 70 million is a subsidy for the operation of Haugesund Airport, which is operated by Haugesund Airport Group, which is not part of the Avinor Group.
The Avinor Group's operating revenues in the third quarter of 2020 amounted to NOK 1,413 million, a reduction of 56.4 per cent from the corresponding reporting period in 2019. Excluding revenue recognized by the state in the third quarter of NOK 400 million, the reduction was NOK 68.8 per cent.
Total operating costs, including goods costs and depreciation, amounted to NOK 1,743 million, compared with NOK 2,115 million in the corresponding reporting period in 2019. The reduction is related to a reduction in volume-dependent costs and cost-reducing measures.
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Avinor Q3, 2021: financial challenges remain prevalent despite increase in air traffic26.11.2021 13:54:59 CET | Press release
Measured in passenger numbers and aircraft movements, traffic increased during Q3 by 50.9 per cent and 20.7 per cent respectively when compared with Q3 2020.
Increase in passenger numbers at Avinor’s airports during October16.11.2021 12:47:53 CET | Press release
A total of 3,384,000 passengers travelled to or from Avinor’s airports during the month of October. This is more than double the figure for the same month in 2020, but also represents a 32 per cent reduction compared with October 2019.
AVINOR and SINTEF in European cooperation that will accelerate innovations for a more sustainable aviation industry13.10.2021 11:59:36 CEST | Press release
The EU has awarded 25 MEUR to an ambitious project for European airports, to increase the use of new technologies in aviation. In Norway, AVINOR and SINTEF will contribute to green aviation.
Continued increase in air traffic in September11.10.2021 10:16:53 CEST | Pressemelding
A total of 2.767.623 passengers traveled to or from Avinor's airports in September this year. This is an increase of 82 per cent compared with the same month in 2020, though 45 per cent lower than in September 2019.
Traffic at Avinor's airports continues to increase10.9.2021 16:35:08 CEST | Press release
2,460,928 passengers traveled to or from Avinor's airports in August 2021. This is a decrease of about 50 per cent compared with the normal year 2019, but at the same time an increase of about 45 per cent compared with 2020.
Interim financial report 2nd quarter 202127.8.2021 12:00:00 CEST | Pressemelding
Fewer aircraft movements and passengers result in sharp decline in traffic revenues and commercial revenues.
Preparing for a different summer at Avinor's airports22.6.2021 13:47:46 CEST | Pressemelding
This summer at Avinor's airports will be different from what passengers are used to from the time before the pandemic. Especially for those travelling to and from abroad.
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