Due to the travel restrictions and the drastic reductions in available flights resulting from the coronavirus pandemic, Munich Airport is currently experiencing massive decreases in every area.
The number of take-offs and landings declined steadily in March and this week had plummeted to less than 10 per cent of the number counted in the corresponding week in 2019. Meanwhile, passenger traffic is now at just 5 per cent of last year’s level.
Against the backdrop of the sharp declines, Flughafen München GmbH (FMG) and its subsidiaries began several weeks ago to implement far-reaching measures to secure the airport’s liquidity. These include a groupwide set of measures to impose tight limits on personnel and material costs to bring about extensive savings in all areas.
As a result, planned investment projects such as the western parking facility, the new corporate headquarters and the new budget hotel have been postponed until further notice.
Jost Lammers, the President and CEO of Munich Airport said, “We are experiencing a crisis in global air transportation on an unprecedented scale, with no end in sight. Protecting the health of the passengers and employees at Munich Airport remains our top priority. Another vital concern is to limit the enormous economic damage for Munich Airport and the people working here by taking all necessary measures to preserve our financial stability.”
In keeping with its role as critical infrastructure, Munich Airport will continue to operate and thus help to ensure that returnees can get home and that cargo shipments keep moving quickly. The airlines now have over 100 out-of-service aircraft parked at Munich Airport. Unneeded infrastructure in the A, B and D areas of Terminal 1 and the Terminal 2 satellite facility have been temporarily shut down.
“Our goal this year is to adjust our economic and financial fundamentals to the current situation and the dry spell that lies ahead. In doing so, we will benefit from Munich Airport’s strong economic performance over the years and especially in 2019,” said Jost Lammers.
At present, any prediction as to when the aviation industry might rebound and resume its upward trend would be mere guesswork. With regard to the long-term outlook for the entire industry and Munich Airport, however, the CEO is looking ahead with confidence, citing the extensive experience gained from past crises in the world of aviation.
“The effects of the coronavirus crisis far exceed the impact of the terrorist attacks of September 11, 2001, or the global financial crisis in 2008. Consequently, it may take significantly longer this time before demand returns to the previous level. Nor can we rule out structural changes in air traffic. But I have no doubt that the global need for mobility will increase in the medium term and that air travel will therefore return to growth once more,” said Mr. Lammers.
Singapore Airlines (SIA) has announced plans to increase flight frequencies and passenger capacity across its network for the 2025 Northern…
Etihad Cargo and Teleport, the logistics arm of AirAsia, have entered into a partnership aimed at increasing cargo capacity and…
SalamAir, Oman’s low-cost airline, has announced the launch of its latest promotion, the "Low Fare Mega Sale," offering discounted fares…
On 13 August 2024, the Düsseldorf-based Rheinmetall Group signed an agreement to acquire all equity interests in Loc Performance Products,…
MRO services provider AAR hosted an internship graduation ceremony on Aug. 8 for the 10 high school students who spent…
The Polish Government has finalised a Foreign Military Sales (FMS) Letter of Offer and Acceptance (LOA) to acquire 96 Boeing…
Korean Air and U.S. defence contractor L3Harris Technologies recently hosted an 'L3 Industry Day' at the Air Force Hotel in…
Worldwide Flight Services (WFS), part of the SATS Group, has secured a five-year licence to manage ramp handling operations at…
Elbe Flugzeugwerke GmbH (EFW), a joint venture between ST Engineering and Airbus, has been granted Continuing Airworthiness Management Organisation (CAMO)…
Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, has been honoured with the top management award by…
airBaltic has placed an order for an additional 10 Airbus A220-300 aircraft, bringing its total order to 90. This marks…
The Israel Ministry of Defense, in collaboration with the Tehkumah Authority, the IDF, and the Hof Ashkelon Regional Council, has…
Virgin Australia has finalised an agreement with Embraer for the purchase of eight E190-E2 small narrowbody aircraft, as part of…
The French Navy's CAMCOPTER S-100 Unmanned Air System (UAS) Squadron was deployed to ensure the security of the waters surrounding…
Air Transport Services Group (ATSG) subsidiary Cargo Aircraft Management (CAM) has leased a Boeing 767-300 converted freighter to New York-based…
Advanced air mobility (AAM) company Volocopter has conducted the world's first electric vertical take-off and landing (eVTOL) flight test within…
Lockheed Martin delivered the first of five C-130J Super Hercules tactical airlifters to the New Zealand Ministry of Defence and…
In June, U.S. Army Special Operations Aviation Command (USASOAC) awarded Boeing a $115 million contract to produce two more MH-47G…
Scoot, the low-cost subsidiary of Singapore Airlines (SIA),will receive its third and fourth Embraer E190-E2 aircraft in Singapore in September…
Ramiro Alfonsín will assume the role of Chief Commercial Officer, LATAM Airlines Group, from Nov. 7. He was earlier Vice…
U.S. and Netherlandshave formalized a Letter of Offer and Acceptance (LoA) agreement to purchase Lockheed Martin’s Joint Air-to-Surface Standoff Missile…
Air India Express has become the first Indian airline to launch a Virtual Interline platform, offering flyers a wider range…
Vard, Norwegian subsidiary of the Fincantieri Group and among the leading companies in the construction of specialized vessels, has signed…
Boeing has delivered the first MH-139A Grey Wolf production aircraft to the U.S. Air Force. The aircraft, part of a…
Embraer has signed an US$ 1 billion syndicated credit agreement for five years. The deal is an extension of a…
Hong Kong's Cathay Group has placed a firm order with Airbus for 30 A330-900 widebody aircraft. The newly-ordered aircraft will…
Türkiye's leading defence company Aselsan has made a significant leap in Defense News' annual “Top 100 Defence Companies List," climbing…
United Aircraft, Shenzhen-based manufacturer of uncrewed aircraft systems (UAS), is seeking international partners for its tilt-rotor UAV (R6000) that will…
Boeing has handed over the first MH-139A Grey Wolf production helicopter to the U.S. Air Force. This aircraft is part…
Airbus has been selected by the French Space Agency (CNES) to design and construct two next-generation microwave radiometers for the…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.