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Finavia Business Review January-September 2021: A moderate start to the recovery of business

Article published
2.11.2021 at 09:10
Helsinki-Vantaan lentoaseman kaukolentoalueen laajennus
The total number of passengers at Finavia’s airports was 2.6 million (5.8), showing a decrease of 56% compared to January–September 2020. Revenues for January–September 2021 decreased by 33.9% and amounted to EUR 83.1 (125.8) million.

At Helsinki Airport, the passenger volume was 55 per cent lower than in January–September 2020. The total number of passengers was 2.1 (4.6) million, with passengers on international flights accounting for 78 per cent of this total.

A total of 0.5 (1.2) million passengers travelled through the regional network airports in January–September 2021, representing a year-on-year decrease of 59 per cent. Following a tendering process conducted by the Finnish state earlier in 2021, new airlines started operating scheduled domestic flights from Helsinki Airport to Joensuu, Jyväskylä, Kokkola-Pietarsaari, Kemi-Tornio and Kajaani in May. In its September budget workshop, the Government decided to continue the purchased air traffic until August 2022.

Finavia’s revenues declined significantly compared to the corresponding period last year. Revenues for January–September 2021 decreased by 33.9% and amounted to EUR 83.1 (125.8) million. The operating margin before extraordinary items declined to EUR -26.2 (-10.1) million. The operating result before extraordinary items was EUR -102.8 (-84.9) million, a decrease of 21.0%.

At the beginning of the review period, Finavia selected three key focus areas with the aim of accelerating the recovery of business, safeguarding the company’s financial position and ensuring the well-being and future of the company’s personnel. Finavia looked after the health security of travel at its airports and participated in the implementation of entry practices in accordance with the guidelines issued by the authorities. In addition, the company continued to invest in the mitigation of climate change and promote Finland’s connectivity.

Finavia’s investments in the development of Helsinki Airport, worth over one billion euros in total, continued in January–June 2021 faster than scheduled in accordance with the decision made by the company. The part of the development programme aimed at increasing the capacity of long-haul traffic was completed when the extension to gate area 37–39 began service at the beginning of September.

Construction work on the extension to Terminal 2 was completed and the deployment stage started at the beginning of September. During the deployment stage, Finavia will familiarise thousands of people with the new premises and equipment, for example. The new premises will be opened in stages starting on December.

Finavia continued renovation work in the air traffic area of Helsinki Airport. An investment of EUR 7 million in environmental protection and making traffic smoother at the airport will be completed in autumn 2021.

Finavia’s EUR 5 million investment in repaving the runway and the replaced runway lighting system at Mariehamn Airport were completed in July. Also, Joensuu Airport’s runway repaving and renovation work was completed.

Progress was made in January–September 2021 with Finavia’s climate programme towards net zero emissions. Zero-carbon district heating was deployed at Rovaniemi Airport earlier in the year. Finavia moved forward with the gradual shift of its heavy vehicles from engine fuel oil to renewable fuel oil. In addition, Finavia installed several electric vehicle charging points on the Helsinki Airport apron for use by all operators.

Read the whole business review here.