Munich Airport significantly improves financial results in fiscal year 2022

A dynamic traffic development brought Munich Airport significantly improved financial results in fiscal year 2022. With a passenger volume of 31.6 million passengers – 19 million more than in the previous year – the airport already reached around 70% of its pre-crisis level. Revenue was almost doubled year-on-year to around €1.2 billion. Earnings before interest and taxes (EBIT) amounted to –€28 million, an improvement of €258 million on the previous year. Munich Airport posted earnings after taxes (EAT) of –€59 million, thus reducing the previous year’s loss by around €200 million.

As the CEO of FMG, Jost Lammers, emphasised at the company’s annual press conference, Munich Airport has also achieved an economic turnaround thanks to the positive traffic development in 2022. Lammers commented: “We expect this encouraging trend to continue in the current year, too. In 2023 we anticipate another significant increase in our revenue, opening up the prospect for us to return to the black already in the fourth year after the start of the worst crisis in the history of aviation.”

The positive traffic development was particularly attributable to connections to North America: Since July 2022, traffic between Munich and destinations in the US has even been higher than the pre-pandemic level. With the start of last winter’s flight schedule, traffic on routes between the Bavarian capital and Asian destinations also increased again. This growth in travel to Asia will continue in 2023 as Chinese destinations are added. Lammers sums up: “We have regained our position as a premium international hub. One clear indication of this is that we increased the number of our intercontinental passengers almost fivefold compared to the previous year. This year, our passenger numbers will reach around 80% of their pre-crisis level again.” 

Munich Airport continued its recovery in the first quarter of 2023, with around seven million passengers counted between January and March. This was 70% more than in the same period of the previous year. Due to the restrictions on international travel as a result of the pandemic, only a little over four million passengers had used Munich Airport for a flight in the first quarter of 2021. With its current passenger volume, Munich Airport has reached around 70% of the record level from the pre-crisis year 2019.