Munich Airport passengers in 2022 rises to about 70% pre-crisis level, doubling its revenue to EUR 1.2 billion
Munich, Germany—A dynamic traffic development brought Munich Airport significantly improved financial results in fiscal year 2022. With a passenger volume of 31.6 million passengers – 19 million more than in the previous year – the airport already reached around 70% of its pre-crisis level.
Revenue was almost doubled year-on-year to around EUR 1.2 billion. Earnings before interest and taxes (EBIT) amounted to EUR –28 million, an improvement of EUR 258 million on the previous year. Munich Airport posted earnings after taxes (EAT) of EUR –59 million, thus reducing the previous year’s loss by around EUR 200 million.
As the CEO of FMG, Jost Lammers, emphasized at the company’s recently held annual press conference, Munich Airport has also achieved an economic turnaround thanks to the positive traffic development in 2022.
“We expect this encouraging trend to continue in the current year, too. In 2023 we anticipate another significant increase in our revenue, opening up the prospect for us to return to the black already in the fourth year after the start of the worst crisis in the history of aviation,” said Lammers.
The positive traffic development was particularly attributable to connections to North America: Since July 2022, traffic between Munich and destinations in the US has even been higher than the pre-pandemic level. With the start of last winter’s flight schedule, traffic on routes between the Bavarian capital and Asian destinations also increased again. This growth in travel to Asia will continue in 2023 as Chinese destinations are added.
“We have regained our position as a premium international hub. One clear indication of this is that we increased the number of our intercontinental passengers almost fivefold compared to the previous year. This year, our passenger numbers will reach around 80% of their pre-crisis level again,” said Lammers.
The Munich Airport Management Board.From left to right: Jost Lammers (President and Chief Executive Officer/Personnel Industrial Relations Director), Nathalie Leroy (Chief Financial Officer / Chief Infrastructure Officer), Jan-Henrik Andersson (Chief Commercial and Security Officer). Image Credit: Munich Airport