By Justin Lee (Singapore)
Amidst the general recovery of the global aviation business from the deep negative impact of the global COVID-19 pandemic outbreak in 2021, VINCI Airports saw passenger traffic across its airports increase by 12.1% to 85.8 million from 76.6 million in 2020, even though this was still a 66.3% decline from the number of passengers travelling through the company’s airports in 2019.
With VINCI’s portfolio of airport assets distributed around the globe, the speed of recovery from the pandemic at its airports in 2021 was subject to a multitude of factors, many of which were characteristics unique to the specific markets in which the airports operated.
Source: VINCI 2021 Full-Year Results Presentation
Nevertheless, apart from its airport operations at Cambodia (Siem Reap and Phnom Penh Airports) , Japan (Kansai Airports) and the United Kingdom (London Gatwick Airport), passenger traffic saw double-digit growth year-on-year at airports operated at Vinci’s airports.
In particular, passenger traffic at VINCI’s airports in the USA, Costa Rica, Dominican Republic as well as Serbia saw year-on-year growth rates of over 75%, indicating that business in these markets would be the closest to recovery from the pandemic.
Investor Insights