(AOF) – In December 2022, Paris airports recorded the highest recovery rates of the year with, at Paris-Charles de Gaulle, traffic reaching 88.0% of the level of December 2019 and, at Paris-Orly, traffic reaching 108.0% of the level of December 2019. Group traffic was up by 36.1%, at 24.4 million passengers, i.e. 93.2% of traffic in 2019, while the Paris Aéroport traffic is up by 45.2%, to 7.6 million passengers, recording the highest recovery rate of the year at 93.7% of 2019 traffic.
These figures confirm that in 2022, Groupe ADP welcomed 280.4 million passengers throughout its airport network, including 86.7 million passengers at Paris Aéroport, i.e. a recovery rate of traffic compared to 2019 in line with forecasts, at 80.9% for the group and 80.2% for Paris Aéroport respectively. The group emphasizes that the recovery in traffic was particularly dynamic in the second half of 2022, amounting, for the group, to 87.5% of traffic in 2019 and, for Paris Aéroport to 88.4% of 2019, after an initial six months to respectively 73.3% and 71.6% of 2019 traffic.
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– World number 1 in airport management with nearly 300 million passengers;
– Turnover of €2.8 billion divided into 5 divisions – the aeronautical activities of the 3 Paris airports, shops & services, the real estate activity of the terminals (ADP being one of the largest landowners on the Ile -de-France), international and other activities;
– Economic model aiming to become a leader in the design, construction and operation of airports and relying on the 3 Paris airports, the 27 airports managed in the world as well as on agreements with airlines;
– Capital 50.6% owned by the French State, ahead of the Dutch company Shiphol (8%) and the Vinci group (8%), Augustin de Romanet, managing director, chairing the 15-member board of directors;
– Tense financial situation, with a debt of €8.3 billion at June 30, ie a leverage effect of 6.4 but the debt is guaranteed by the State.
– “2025 Pioneers” strategy: infrastructure: + 80% of departures on time, multimodal connections / concessions: average maturity stabilized at 30 years;
– Innovation strategy focused on telecom & mobility services via Hub One / global digital ecosystem and centered on data, via 100 international routes and the “smartization” of airports / 120 experiments including 30 industrialized;
– Environmental strategy of carbon neutrality in 2030 for Paris airports: improvement of air quality, waste recovery, use of 10% low-carbon energy and preservation of surfaces for biodiversity;
– Launch of 3 joint ventures: with Air Liquide in services and engineering for the transition to hydrogen for airports, with JC Decaux for the management of advertising activities and with Lagardère for that of retail outlets in Paris;
– Continuation of cost reductions but resumption of investments at €1 billion per year until 2025, including €550 to 600 million for Paris in 2022
– Strong correlation to variations in the pandemic and the financial health of airlines, in particular EasyJet and AirFrance-KLM, 1st and 2nd operators in Paris;
– End of HubLink industrial cooperation between Aéroports de Paris and the Dutch Schiphol, leading by May 2023 to the end of cross-shareholdings;
– Review of international activities;
– After a doubling of turnover and a positive net result of €160 million in the 1st half, raising of the 2022 objectives of an operating margin from 32% to 37% and a debt leverage between 6 and 6, 5% with, for confirmed traffic assumptions, 74% to 84% of the 2019 level for Groupe ADP and 72% to 82% for Paris Aéroport;
– Traffic forecasts confirmed in October: 2022: 74% to 84% of the 2019 level for ADP and 72% to 82% for Paris / 2023, traffic at 85-95% of that of 2019 for Paris Aéroport, margin at the same level only in 2022 and minimum dividend of €1;
– Maintenance of the suspension of the dividend until 2022.
Once again weakened results for European airlines
With fuel accounting for up to 35% of their costs, professionals believe European airlines are unlikely to return to profit until 2023 or 2024 at the earliest. These players predict that energy prices will remain high at least until 2023. The International Air Transport Association (IATA) has announced a forecast of cumulative losses of 9.7 billion dollars in 2022 for airlines at around the world, it will still be necessary to wait until 2023 to see the return to profits on a global scale, due in particular to the surge in oil costs and the rise in labor costs. On the positive side, travel demand seems to be resisting the uncertainties caused by the international economic and political situation. However, the uncertainties concerning the Covid, the war in Ukraine, as well as the rise in prices are strengthening last-minute reservations. According to Iata, only 8% of international reservations made at the end of May went beyond September.
The social climate is deteriorating in low-cost companies
These companies are benefiting from a very strong recovery. They had already managed to monopolize 40% of air traffic in 2021, this proportion could even rise to 50% this year. However, strike movements have affected the activity of Volotea, EasyJet and Ryanair, with confrontations over pay and working conditions. In general, the sector faces a shortage of personnel. After having severely cut their workforce in 2020 and 2021, companies and airports must urgently recruit to support the relaunch of activity.