Paris Airport Traffic Won’t Return To Normal Before 2024, Says CEO

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Nancy Heslin   Forbes Monaco

Augustin de Romanet, Chairman and CEO Groupe ADP

Augustin de Romanet, Chairman and CEO Groupe ADP.  Photo: Groupe ADP.

In a press release Monday, Augustin de Romanet, Chairman and CEO of the international airport operator Groupe ADP, stated, “This is the first time in 50 years that air traffic has experienced a downturn this abrupt and it is established that the recovery will be very gradual: a return to the 2019 traffic level in Paris is anticipated between 2024 and 2027.”

Groupe ADP, formerly Aéroports de Paris, reported the Group’s activities were strongly affected from March onwards, with consolidated revenue falling by 46.5% over the first half of 2020 to €1.168 billion.

“This crisis brings structural economic effects on air transport with a persistent public health threat,” de Romanet said. “In this new operational and financial environment, Groupe ADP is going to review its strategic orientations in order to provide the company with the capacity to return to profitable and sustainable growth.”

Over the first half of 2020, group traffic fell by 57.5%, with a total of 48.2 million passengers, and that of Paris Aéroport by 62.2%, with 19.8 million passengers. April and May saw almost no traffic while June and July have been slow to recover.

EBITDA remains positive at €39 million and net result attributable to the Group stood at -€543 million, due in particular to significant depreciations abroad and in the retail and services impacted by the crisis.

Today's statement also confirmed that Groupe ADP has concluded the acquisition of a stake in the Indian airport group GMR Airports “paving the way to a new industrial partnership which will be a growth driver for the future.”

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Nancy Heslin   Forbes Monaco

Nancy Heslin is an established journalist and lifestyle writer. She has been the Editor-in-Chief of Forbes Monaco magazine (bimonthly in English) , since the magazine's 2nd issue . Launched in November 2018, Forbes Monaco is part of the Forbes family, with its 7 million readers and 71 million monthly website visitors worldwide.