In the space of a few hours, two key players in the French aeronautics sector unveil their 2021 results. After a year of “financial discipline” which notably saw the implementation of a voluntary departure plan for 1,150 employees (out of 6,200), the ADP group, which notably manages the Parisian airports of Orly and Roissy, announced on Wednesday February 16 net losses of 248 million against losses of 1.1 billion in 2020.
It should be noted that with its only two Parisian airports, ADP represents, year after year, around half of French passenger traffic and we already know that Orly and Roissy welcomed nearly 42 million passengers in 2021. The group is banking on traffic this year between 65% and 75% of that of 2019.
→ REREAD. ADP announces cost reductions to unions
But it will still be necessary to wait to regain the altitude of 2019. “The mid-range scenario of the European branch of Airports Council International does not expect a return to 2019 levels for two years, notes Nicolas Paulissen, General Delegate of the Union of French Airports (UAF). But it could be even longer for airports whose traffic is mainly specialized in long-distance flights. »
60 to 65% less attendance compared to 2019
While waiting to have final figures for the attendance of French airports in 2021 in a few weeks, the latest estimates evokeda drop in the number of passengers of 60 to 65% compared to 2019 when more than 214 million travelers landed or took off at a French airport. In 2020, the drop was 67%.
“We must not forget that the first quarter of 2020 had been very good before the start of the crisis, explains Nicolas Paulissen. In 2021, it was summer that saw an excellent recovery on domestic and intra-European flights. Flights to certain more distant areas such as Asia have been, and remain, more complicated. »
air holes
This slow recovery may be able to complicate the affairs of Air France KLM, which is also presenting its 2021 results this Thursday, February 17 after two years of a health crisis which has damaged the financial health of many companies. For the Franco-Dutch group, the year 2021 has also been a year of flight with air pockets.
After a gloomy first half, the sharp resumption of flights last summer and the reopening of the American borders in September have kept hopes of a positive result at the end of the year. Before the Omicron variant with a resurgence of the epidemic or even social unrest in the West Indies darkens the flight horizon.
A necessary recapitalization
However, at the end of the year the group placed a gigantic order for around a hundred new generation Airbus A320s and A321s, an investment of several billion euros.
«Too many airlines after the 2008 crisis cut their fleet renewal or modernization investments and fell on their fingers a few years laternotes a good connoisseur of the sector. For Air France, this order is vital to have more fuel-efficient planes but also to be the best bidder from an environmental point of view when the societal requirement in this area will weigh on the companies. »
→ ANALYSIS. The aviation sector regains a little altitude
In this financial context, one of the major challenges of the year, in addition to the recovery in traffic and the return of business travelers whose customers are more profitable, will be a recapitalization that the group has delayed until the health crisis calm down. According to analysts, group officials are hoping for a funding round of between 1 and 2 billion euros.