At the General Assembly held on 19 July 2024, a review of the 2023 financial year was presented. Following the challenging pandemic years, the company’s revenue development returned to a very positive trajectory, resulting in a significantly higher profit compared to the previous year.
At the same General Assembly, two new members of the Supervisory Board were appointed.
The 2023 financial year closed with total revenues of EUR 38.4 million, representing a substantial increase of 31% compared to 2022. Of the total revenue, 77% was generated from the aviation sector, while 23% came from the non-aviation sector. The non-aviation sector comprises all revenues not directly related to aircraft operations and handling, including areas such as leasing and rental, retail income and similar business fields. Total investment volume in 2023 amounted to EUR 2.9 million, of which approximately EUR 2 million was invested in the purchase of a new baggage X-ray screening system and the necessary adaptation of the baggage handling system. After deduction of all costs and expenses, a profit before tax of approximately EUR 2.6 million was achieved.
“The airport connects us with the world and the world with us. At the same time, it is an important engine for the regional economy. As an indispensable part of our infrastructure, it makes a significant contribution to strengthening Tyrol’s economic and tourism position,” emphasised Mario Gerber, Provincial Councillor for Tourism, Economic Affairs and Investments. He added: “I would like to warmly congratulate Innsbruck Airport on the positive results achieved in the 2023 financial year. Once again, the airport has demonstrated its resilience and adaptability following the challenging pandemic years.”
Mayor Johannes Anzengruber commented on the 2023 results: “Of particular importance for Innsbruck Airport and the people of Tyrol is the resumption of services to Vienna and Frankfurt. Both are crucial connections that once again bring Innsbruck closer to major Central European hubs. I am pleased that airport management was able to curb the downward trend and expect that, in the medium term, the gap to pre-Covid levels will close. Overall, solid work has been done to stabilise the airport economically. A strong performance by the airport has direct positive effects on the economy and tourism in Innsbruck and throughout Tyrol.” As the city councillor politically responsible for security, Anzengruber also expressly welcomed the planned expansion of the airport police station.
Two new members of the Supervisory Board
As part of this year’s General Assembly of Tiroler Flughafenbetriebsgesellschaft mbH, two existing members of the Supervisory Board were dismissed and replaced by two new members. Lawyer and former Member of the National Council Mag. Gisela Wurm and Mst. Matthias Mölk, Managing Director of Bäckerei Therese Mölk, were newly appointed to the Supervisory Board by the shareholder, the City of Innsbruck, replacing Mag. Fiona Primus and Mag. Lucas Krackl. Supervisory Board Chair Mag. Dr Paula Stecher commented on the changes: “I would like to thank Mag. Fiona Primus and Mag. Lucas Krackl for their commitment to the Supervisory Board over the past years and already look forward to working with the two new members, Mag. Gisela Wurm and Mst. Matthias Mölk.”
The ongoing 2024 financial year
The start of the year and the first quarter of 2024 – which is particularly important for the airport – were characterised by a successful winter season. However, from the start of the summer flight schedule, the temporary cancellation of the Frankfurt route and the reduction in frequencies on the Vienna route led to significant declines in daily passenger numbers. While the first half of the year still closed with a slight passenger increase of +1.3%, reaching nearly 618,000 passengers, the positive performance of the current summer season, with flights to around 20 destinations, will no longer be sufficient to significantly offset the negative effects of developments on the Frankfurt and Vienna routes over the remainder of the year.
A more promising outlook for year-end is provided by the already confirmed 2024/25 winter flight schedule, which includes newly added destinations such as Warsaw and Riga. Of particular importance for the airport and the local market, however, is the resumption of the Frankfurt connection with up to two daily flights, as well as the increase in Vienna frequencies to up to three daily flights.
Further development of the airport site
Planning is currently underway for a security centre east of the terminal. This facility will provide state-of-the-art premises for critical infrastructure such as air traffic control and the police, as well as additional office space.
Image credit: Gerhard Berger