The state-owned airport operator Swedavia reported an operating loss of SEK 650 million in the second quarter. At the same time, turnover plummeted by 79 percent in the wake of the non-existent travel due to the corona pandemic.

The Swedish airline Swedavia, which operates ten airports in Sweden, has been hit hard by the coronavirus pandemic, with air traffic essentially at a standstill for much of the spring. Between April and June, traffic at the company's airports fell by 97 percent compared to the same period last year.

”"However, our operations are completely dependent on variable income from our customers and the crisis has meant a loss of revenue for Swedavia of just under half a billion kronor per month during the quarter," writes CEO Jonas Abrahamsson in the half-year report.

The second quarter ended with an operating loss of SEK 650 million, compared with a profit of SEK 278 million in the corresponding quarter last year. Swedavia's revenue during the quarter amounted to SEK 335 million, a decrease of 79 percent compared to the second quarter last year when the company had revenue of SEK 1,597 million.

”"During the last weeks of the quarter, the aviation market showed signs of a cautious recovery. At the same time, there are many indications that the market is moving towards a new normal with new conditions after the Covid-19 pandemic," writes Jonas Abrahamsson.

Swedavia writes that during the second half of the year, the company will need to complete a large part of the notice of 800 full-time positions that it placed in March.

”"It is a difficult but necessary decision that no one could have imagined we would have to make when we entered this year. The changed market situation also means that in our investment portfolio we now prioritize projects and measures that increase efficiency, flexibility and service over capacity," writes Jonas Abrahamsson.

In mid-June, the government decided to allocate a maximum of SEK 3,150 million to Swedavia during the corona crisis. 

Source: di.se