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Almost 200 European airports at risk of Bankruptcy Because of COVID-19 Influence, warns a new report

Almost 200 airports around Europe are in danger of bankruptcy because of the collapse in aviation, the European airports’ trade body has warned.

It states those affected are largely regional airports that just operate domestic flights.

It is estimated that these at-risk airports use joint 277,000 people and create collective yearly earnings of $12.4 billion.

However, ACI Europe also says that the bigger European airports and hubs”aren’t immune from a significant financial threat”.

“They’ve cut prices to the bone and are employing the financial markets to combine their outcomes and put up financial defenses,” ACI Europe explained.

The organization also has called on authorities to”measure up to supply the essential support” to get 20 leading European airports that have endured a sudden rise in debt of $16 billion – almost 60 percent of the turnover for a standard year.

“Eight months to the emergency, all Europe’s airports are burning cash to stay open, with earnings from covering the expenses of operations, let alone funding expenses.”

“Governments’ present imposition of quarantines instead of analyzing is attracting Europe’s airports closer to the brink with each day that moves.”

Passenger figures at Europe’s airports in September dropped by 75 percent compared with the same month in 2019, and ACI Europe states”dropped passengers” because January is currently 1.29 billion.

“In the middle of another tide, ensuring safe aviation has been our principal concern,” explained Olivier Jankovec.

“It is Vital that people decrease the risks of importation and dissemination as far as you can”

ACI Europe has known for widespread COVID-19 testing to be released in airports to prevent quarantine measures and assist to restart traffic.

“The simple fact that these airports needed to create tens of thousands of highly skilled employees redundant, obviously jeopardizes their potential”.