Due to the current crisis, Vienna’s capital city of Vienna has to save 220 million euros. Among other things, parts of the upcoming modernization are being postponed.
© Flughafen Wien AG
Airport steps on the brake on costs
Passenger numbers at Vienna Airport dropped by 98 percent due to the corona crisis. For this reason, a savings and liquidity protection program has been developed, which comprises a volume of over 220 million euros or more than 25 percent of the sales planned for 2020, whereby the workforce is currently on short-time work.
The airport postpones the Annual General Meeting to September 4, 2020. No dividends will be distributed for the 2019 financial year either.
With the help of the savings plan and other measures taken, such as the use of state aid measures and the agreement of sufficient lines of credit, the company’s liquidity is ensured until the end of the year even if the crisis persists.
© Flughafen Wien AG
South expansion is postponed
All planned investments for 2020 will be reduced to less than 100 million euros. Office Park 4 and Terminal 2 will still be completed. The other construction projects, such as the south extension and the pier east renovation are postponed. A new schedule will not be available until 2021.
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