Directly after the pandemic broke out, FMG responded with an array of measures aimed at limiting losses and safeguarding liquidity. Short-time working arrangements were introduced for most of the Group’s 10,000 or so employees, the Terminal 2 satellite building and Terminal 1 were temporarily shut down, and any investment projects not currently classed as strictly necessary were postponed. This led to total savings of EUR 530 million in 2020.
FMG’s earnings before interest, taxes, depreciation and amortization came to EUR -160 million last year. Taking into consideration depreciation and amortization, EBIT amounted to EUR -400 million.
In 2020, the COVID-19 pandemic saw Munich Airport record its lowest traffic figures since it opened in 1992. Due to global travel restrictions, the passenger volume in Munich fell by around 37 million to a little more than 11 million, nearly 77% lower than the previous year’s figure. In the months of January and February that were not impacted by the pandemic to come, over 6 million more passengers were recorded than in the following ten months. The number of take-offs and landings dropped by more than 270,000 to around 147,000 in 2020 – a fall of nearly 65%. The cargo volume – including air freight and air mail handled – in Munich came to around 151,000 metric tons in 2020, more than halving year-on-year.
To prepare for what current industry assessments are expecting to be a very slow recovery in aviation, FMG introduced an extensive restructuring program to adapt the strategic alignment and the resources and structures of the company to the changed conditions resulting from the pandemic. All efforts are geared towards ensuring and strengthening Munich Airport’s future viability over the long term.