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Prague Airport Group Stops Losses, Having Increased Connections and Number of Handled Passengers Last Year

The Prague Airport Group reported an operating profit (EBITDA*) of CZK 145 million in 2021. Last year was very demanding again due to the continued Covid-19 pandemic. The fact also significantly affected the passenger and aircraft handling services provided by its subsidiary of Czech Airlines Handling, while the decline in traffic and the restored market uncertainty impacted the aircraft maintenance segment of services provided by Czech Airlines Technics.

According to ACI Europe, of all European countries, air transport in the Czech Republic, alongside Finland, the United Kingdom, and Ireland, was negatively affected the most by the worldwide situation. Although the first quarter was critical in terms of the number of passengers handled, the interest in travel, predominantly among Czech Republic citizens, increased in the summer months. Thanks to that, Prague Airport handled nearly 4.4 million passengers in 2021.

“We can also be a bit optimistic with regard to operations management, as we achieved a slightly positive result and stopped deepening our company's debt. The year 2021 was also made special by the resumption of air connections and an increase in the number of frequencies to already served destinations. We welcomed five brand new carriers and added connections to six new destinations, including remote exotic places. The German carrier Eurowings launched operations of its base in Prague in November 2021,” Jiří Pos, Chairman of the Prague Airport Board of Directors, said evaluating the past year.

The gross operating profit (EBITDA) of Prague Airport, the operator of the largest international airport in the Czech Republic, reached CZK 190 million. The priority remained the assurance of safe and reliable airport operations. The airport took advantage of the limited traffic to implement upgrades and pursue with repairs of its infrastructure, suspended in 2020. “We focused on the area of sustainable development. This step is closely related to the strengthening of the financial stability of the Group. We have concluded a credit framework totalling CZK seven billion with a consortium of banks. The loan will also partially finance the planned sustainable development,” Jiří Pos added.

Czech Airlines Handling (CSAH), the provider of complex services of ground handling of passengers, aircraft, cargo, and post at Václav Havel Airport Prague, recorded a gross operating loss of CZK 47 million in 2021. “Last year was also very demanding for our company due to the lasting effects of the pandemic. Despite, we managed to win new customers, including Finnair and EgyptAir carriers. On 1 November 2021, the German carrier Eurowings, which is our long-term customer, launched operations of its base in Prague, housing two Airbus A319 aircraft. The cargo handling segment also continued to grow, which is a trend we have been noticing since the beginning of the pandemic. Czech Airlines Handling also succeeded in the tender for the use of airport infrastructure and storage of aviation fuel. In addition, a new aircraft refuelling agreement with ÖMV was concluded,” Tomáš Svoboda, Chairman of the Board of Directors, reviews the company’s operation during the past year. Quality and safety are the basis of the company’s work, which has long been confirmed by the international certification for ground operations, ISAGO, which Czech Airlines Handling holds and was reassigned in 2021.  

In 2021, a gross operating profit of CZK 2 million was recorded by Czech Airlines Technics (CSAT), the provider of aircraft and aircraft components repair and maintenance in Prague. “In the first part of the year, we faced job order shortage, which strongly affected the setup of the entire company. Then, thanks to the recently launched aircraft parking service, we managed to expand the co-operation with leasing companies, both in the segment of aircraft landing gear set overhauls and base maintenance. Thanks to that, the company was able to use fully all its capacities in the second part of the year,” Pavel Haleš, Chairman of the CSAT Board of Directors, commented on the company’s 2021 results. The same trend prevailed in the main maintenance season, in which Czech Airlines Technics continued to perform job orders for contractual partners across all segments. The company also extended its base maintenance authorisations to include the Boeing 737MAX and the Airbus A320Neo aircraft types, getting new job orders, and concluded a new long-term agreement with Austrian Airlines. Czech Airlines Technics completed a total of 33 landing gear set overhauls, which is the highest number of jobs in its entire history. In the line maintenance segment, the company entered into an agreement on the provision of comprehensive support for the new base carrier Eurowings.

The Prague Airport Group associates the following key member companies: Prague Airport, Czech Airlines Handling, and Czech Airlines Technics. The sole shareholder of CSAH and CSAT subsidiaries is Prague Airport, a company 100% owned by the Ministry of Finance of the Czech Republic.

 

Company

EBITDA (in mil. CZK)

2021 vs 2020

2021

2020

Prague Airport

190

-459

+649

CSAH

-47

-126

+79

CSAT

   2

-132

+134

Group Total

145

-717

+862

*EBITDA stands for earnings before interest, taxes, depreciation, and amortisation

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Contact for media
Tisková mluvčí Letiště Praha
Klára Divíšková
K Letišti 1069/1