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.
Ecojet, the world's first electric, commercial airline, has signed an agreement to purchase 22 ZA2000 hydrogen-electric engines from ZeroAvia, with…
Vertical Aerospace has seen its latest VX4 prototype perform its first tethered piloted flight as it begins the “wheels up”…
As many as 260 firm commercial aircraft orders and £81.5bn worth of deals were struck on the first four days…
The first mission-ready F-16 pilots to graduate from the European F-16 Training Center (EFTC) in Romania were honoured today. This…
The NATO Support and Procurement Agency (NSPA) has awarded Airbus Helicopters a contract to lead a concept study as part…
Turkish Technic, a global maintenance, repair, and overhaul (MRO) company, has recently signed a Component Support Agreement with Citilink, a…
Following its firm order of 20 A330neo aircraft at the 2024 Farnborough International Airshow, Vietjet has entered into significant agreements…
NASA Langley Research Center has awarded a contract to Terma to improve the data management and operational efficiency of its…
With the advanced air mobility (AAM) industry on the verge of take-off, there has been a concerted effort by companies…
Magellan Aerospace Corporation (Magellan) has inked a Memorandum of Understanding (MOU) at the Farnborough Airshow with the Indian firm, Aequs…
ZeroAvia and KLM Royal Dutch Airlines will work towards a demonstration flight using ZeroAvia’s ZA2000 zero-emission, hydrogen-electric engines for large…
Pratt & Whitney has received more than 950 GTF engine orders and commitments since the beginning of the year. Airlines…
Triumph's Thermal Systems Division has been awarded a long-term-program contract to design, manufacture and support the precooler system for the…
Pratt & Whitney and OGMA Indústria Aeronáutica de Portugal , an Embraer company, have announced the induction of the first…
Abra Group has signed a Memorandum of Understanding (MoU) for five A350-900 aircraft, aiming to expand its international long-haul operations…
Saudi Arabia’s low-cost carrier flynas has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and…
Thai Airways International Public Company Limited (THAI) has signed a six-year agreement with GE Aerospace to extend their TrueChoice Service…
AirAsia Aviation Group and AirAsia X, two of Asia’s largest low-cost carrier groups, have strengthened partnerships with SITA, adopting SITA…
AAR, a provider of aviation services to commercial and government operators, MROs, and OEMs, has entered into several long-term distribution…
J&C Aero, an EASA-certified international cabin interior hub, has successfully completed a full cabin modernisation of a Boeing 757-200, equipping…
Hours after it signed a contract with Australian company Wilbur Air, Spanish electric aircraft manufacturer Crisalion Mobility announced that it…
In a significant milestone for the D328eco programme, German OEM Deutsche Aircraft has commenced the construction of the first test…
British cargo airline, One Air, has marked its first year of operations by connecting 28 global airports and transporting over…
Liebherr-Aerospace and AAR have announced the signing of a General Terms Agreement (GTA). Under this agreement, Liebherr will grant licence…
EirTrade Aviation, the global aviation asset management and trading company, has begun disassembling its first B777-300ER in Knock, Ireland. The…
JEKTA Switzerland, the developer of the zero-emissions PHA-ZE 100 amphibious aircraft, has signed an agreement with Seaplane Asia to add…
Embraer announced a significant development for Brazilian air traffic during the Farnborough International Airshow. Atech, an Embraer Group company specialising…
Boeing and Ryanair, Europe’s largest airline group, are set to enhance the efficiency of Ryanair’s primarily 737 fleet by incorporating…
Specialist regional aircraft lessor TrueNoord has secured a new five-year term loan with BayernLB. This agreement strengthens TrueNoord’s relationship with…
LanzaJet, a sustainable fuels technology company, has received a strategic investment from Airbus to help expand LanzaJet’s ethanol-to-sustainable aviation fuel…
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.