Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Passenger confidence key to recovery at Vinci's airports

Published 06/15/2020, 03:24 PM
Updated 06/15/2020, 03:56 PM
© Reuters. The spread of the coronavirus disease (COVID-19) in Lisbon

By Catarina Demony and Sergio Goncalves

LISBON (Reuters) - How quickly more than 40 airports run by French group Vinci (SGEF.PA) can recover from the coronavirus crisis depends on whether passengers feel safe enough to travel, the head of the company's airports business Nicolas Notebaert said on Monday.

"It is just the start," Notebaert, who is president of Vinci Airports, told reporters after taking the first post-lockdown flight from Nantes to Lisbon operated by budget airline Transavia. "The speed of recovery will depend on the confidence we create for our passengers."

Vinci runs 45 airports in 12 countries, making it the second largest airport operator in the world, behind Spain's Aena (MC:AENA).

"They (passengers) can come back to our airports, which are clean, safe and health measures are in place in order to welcome them," Notebaert said.

Though passengers might slowly return, the outbreak is set to leave long-lasting scars on the aviation industry.

Last week, the International Air Transport Association said the coronavirus crisis will lead the airline industry into record annual losses of $84 billion as 2020 goes down as the "worst year in the history of aviation."

Airline passenger traffic is expected to rise 55% in 2021 from a low level this year, while remaining 29% below its 2019 level, IATA said.

In April, Vinci said its revenues would fall sharply in the months ahead, after sales remained stable year-on-year in the first quarter, boosted by the acquisition of a majority stake in Gatwick airport.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.