By Justin Lee (Singapore)
In 2021, AviAlliance , the wholly-owned subsidiary of Canadian Public Sector Pension Investment Board (PSP Investments), saw all of its five airports in its portfolio – Athens, Budapest, Dusseldorf, Hamburg and San Juan – experiencing the start of the recovery in passenger traffic due to the lifting of travel restrictions.
Total passenger traffic for AviAlliance’s five airports in 2021 were at 39.8 million, a 42.1% increase compared to total passenger traffic for 2020, though total passenger traffic in 2021 was still 57.7% lower than the total passenger traffic in 2019.
At Budapest Airport, 4.6 million passengers passed through its terminals in 2021. This was a 17.9% increase in passenger throughput compared to the previous year, even though Budapest Airport’s 2021 throughput was still 71.6% lower than that of the year 2019.
Nevertheless, the increase passenger traffic at Budapest Airport translated into improvements of Budapest Airport’s financial performance. In 2021, Budapest Airport’s sales revenues increased by 23.4% year-on-year to EUR143.6mn (56.6% lower compared to 2019 revenues) , while EBITDA increased by 57.2% to EUR59.9mn (75.5% lower compare to 2019 EBITDA).