Travel at Swedavia's airports continued to increase sharply during the third quarter of the year, driven by the travel recovery after the pandemic and airline investments at Stockholm Arlanda Airport. The increased travel had a positive impact on Swedavia's results, with increased net sales and a positive operating profit for the second quarter in a row. At Arlanda, waiting times for security checks have now normalized and the airport continued to be at the top of Europe in terms of punctuality during the period.
The recovery in air travel continued during the third quarter of this year and at the end of the quarter reached 76 percent of travel before the pandemic in 2019, which is the highest figure since the start of the pandemic in early 2020. A total of just over 20 million passengers traveled at Swedavia's ten airports during the nine-month period, which corresponded to an increase of almost 200 percent compared to 2021.
– So far this year, we have had exceptional growth at Swedavia's airports, something that continues to positively affect Swedavia's results. After a number of quarters with losses linked to the effects of the pandemic, it is of course pleasing that we are reporting a positive result for the second quarter in a row. It is obvious that people long for and prioritize traveling and meeting each other when the opportunity arises. This applies to trips to visit family and friends, but there is also a need to meet again in a work context, says Swedavia's President and CEO Jonas Abrahamsson.
Swedavia's net sales for the third quarter amounted to SEK 1,311 million (793), which is an increase of SEK 518 million compared to the previous year. Operating profit amounted to SEK 75 million (-250), which is an improvement of SEK 325 million. Cash flow from operating activities was positive for the third quarter and amounted to SEK 322 million. For the nine-month period, operating profit was SEK -183 million (-1,119).
– The increased travel is taking place despite increasing economic uncertainty, high inflation and a challenging security situation. In addition, there are pandemic restrictions in several parts of the world that are affecting travel. These factors collectively contribute to an uncertain market development, but there is much evidence that travel will continue to increase in the long term, says Jonas Abrahamsson.
At Stockholm Arlanda Airport, the staffing situation at security checkpoints has improved significantly during the period, which has meant that queues and waiting times at security checkpoints have now normalized. Approximately 90 percent of all travelers have a queue time of 0-15 minutes. At the same time, punctuality at Arlanda, as for airports in Europe in general, has improved further during the period. Arlanda continues to be at the top as one of the most punctual airports in Europe.
According to the press release.
