Declining accounts for Enav in the first nine months of 2020 due to the collapse in air traffic triggered by the Covid-19 pandemic.
Lconsolidated net income marked a decline of 44,2% to 55,1 million euros, while i consolidated revenues decreased by 14,8% to 589,1 million euros "due to the 62,6% reduction in revenues from operating activities, caused by the sharp contraction in traffic, deriving from the Covid-19, partially offset by the balance", underlines Enav in a note.
Down too the consolidated EBITDA, dropped by 25,8% to 175 million due to the contraction in revenues partially offset by cost efficiency (-9%).
In the same nine months the route traffic recorded a decrease of 59,6% respectively in terms of service units compared to the nine months of 2019, while the terminal traffic decreased by 58,8%, in terms of service units, compared to the corresponding period of 2019.
“The first nine months of 2020 were characterized by a sharp decline in air traffic. Against the almost 10% increase recorded in the first two months of the year, in the immediately following months traffic collapsed with peaks of 90% compared to 2019 and then stabilized around a drop between 55% and 60% in summer months, compared to the same period last year”, continues Enav.
In detail, international air traffic (arrival or departure from a foreign airport) showed a drop in service units of 65,1%, while overflight air traffic service units (planes crossing Italian airspace without a stop) decreased by 59,8 %. Finally, regarding national air traffic (arrival and departure from Italian airports) the reduction in service units was equal to 50%.
Similar percentages were recorded in the rest of Europe, where, again with reference to service units, the average figure for the period January - September 2020 for the States adhering to Eurocontrol was -56,7%; in particular: Germany (-53,0%), Great Britain (-57,5%), Spain (-59,4%) and France (-59,3%).
"Despite the emergency caused by the Covid-19 pandemic, ENAV has ensured full operations, while guaranteeing maximum protection of the health of its operational and administrative staff", highlights the company. For the managing director Paolo Simioni “Air transport remains strongly linked to the global pandemic situation, with economic/financial repercussions that negatively impact the sector and which do not leave us completely unscathed. Thanks to cost containment, and the push towards unregulated activities, we are about to face the challenges that the pandemic imposes on us. We remain focused on technological innovation, the digitization of systems and the continuous professionalisation of resources, safeguarding the full operation and safety of the service and of our people, aware of the essential service role that ENAV plays for our country and for the entire sector".
