The second quarter of the year was marked by a strong recovery in air travel. Nearly 8 million passengers traveled through Swedavia's airports, almost five times as many as during the same period last year. The development contributed to an improvement in both revenue and profit for the quarter, but the result for the six-month period is negative and continues to be characterized by the effects of the pandemic. Extensive measures have been required to strengthen operational activities to meet the sharp increase in travel, which has led to increased operating costs as planned. Swedavia's development work to make Stockholm Arlanda Airport a more efficient and modern airport has continued. A new milestone was reached during the quarter when the new connecting corridor between Terminal 4 and Terminal 5 was inaugurated.
Just over six million more passengers arrived at or departed from one of Swedavia's airports during the second quarter of this year compared to the same period in 2021. Despite the strong recovery, the industry is still some way from reaching its pre-pandemic level. The 7.7 million passengers at Swedavia's airports in April-June correspond to just over 70 percent of the passenger level during the second quarter of 2019.
– The recovery in the aviation market is welcome for both travelers and a damaged aviation industry after just over two years of pandemic and limited travel and opportunities to meet. The sharp increase in travel in a short time has a positive impact on Swedavia's results, but has also posed major challenges for us and other players at Stockholm Arlanda Airport in particular, where we have had the equivalent of 20 years of passenger growth in just a few months. Together, we have worked intensively to staff up and adapt the operational activities to increased air travel – a work that continues with unabated vigor, says Jonas Abrahamsson, President and CEO of Swedavia.
For the period January-June, Swedavia's net sales amounted to SEK 2,185 million, with a negative operating profit of SEK -258 million. For the quarter, net sales amounted to SEK 1,303 million, an increase of SEK 820 million compared to the second quarter of 2021. Operating profit for the quarter also improved and amounted to SEK 67 million. The expanded operational activities at the airports to be able to accommodate more passengers have resulted in increased operating costs. Cash flow from operating activities during the quarter was positive and amounted to SEK 153 million.
During the quarter, Swedavia continued to size its operations for the increasing travel volume. Some of the measures to strengthen Arlanda's capacity have been to open Terminal 4 with the new passage between Terminals 4 and 5 earlier than planned. Swedavia has also made significant efforts to strengthen staffing in both the short and long term with both regular and additional resources.
– Just like at many airports around Europe, the staffing challenges for several of the airport's players have at times meant longer queues than normal for travelers, especially at Arlanda. Together with our partners, we have done our utmost to handle the situation in the best possible way and we have taken a number of extraordinary measures. The combined reinforcement of resources has had an effect on both queues and congestion at Arlanda. At the same time, we continue to strengthen national and international accessibility to meet the strong demand that is in the start-up after the pandemic. It is extremely pleasing that a large number of airlines are choosing to invest in our airports and especially at Arlanda, which continues to strengthen its market position for the future, says Jonas Abrahamsson.
According to the press release.
