Hamburg Airport in Germany is back in the black for the first time since the end of the COVID-19 pandemic. The result exceeds the airport’s own expectations having originally assumed a deficit of -€9.7 million, but has actually achieved a profit of €6.6 million.
The rapid recovery of passenger traffic, which as recovered faster than expected and the airport having come through the energy crisis better than forecast have both been credited as being behind the airport’s improved results. In addition, the measures taken by the airport to reduce costs and increase revenues have paid off. The focus now is on continuing that growth trajectory with a modernisation programme – HAMUpgrade which will focus on technical solutions, more staff on site and investments in cleanliness.
“We have not yet achieved the results we were used on in previous years and which largely benefitted the City of Hamburg. The financial cuts during the three corona years were too severe for that,” noted Christian Kunsch, CEO of Hamburg Airport. “But we have achieved the turnaround faster than expected. This gives us more breathing space to continue investing in our terminal facilities and services – we want to make Hamburg Airport fit for the coming years and are looking forward to this travel summer with confidence.”
In 2023, around 13.6 million passengers travelled through the German airport (more than the 11.1 million that travelled through the airport in 2022, but less than the 17.3 million seen in 2019) with a particularly strong increase in demand from private travellers. The airport is expecting slightly more moderate growth of around 5% this year.
With around 1,750 employees, the airport is keeping the number of staff at a stable level. A slight decline in 2023 was due to partial retirement and early retirement arrangements that were offered during the global pandemic and came into effect last year. At the same time, the airport had a record number of trainees and dual students. “We are focusing on a sustainable personnel strategy. This can be seen not only in our once again strong training year, but also in our ground handling services. This year, we are once again strengthening our team with foreign staff, who we hope will stay with us long-term,” said Berit Schmitz, MD at Hamburg Airport.
The HAMUpgrade modernisation programme, which will be rolled out over the coming years, will see the expansion of the popular Slot & Fly service, enabling passengers to reserve a time slot for access to the security checkpoint free of charge. All baggage machines will also be retrofitted with hand scanners to make handling even easier for passengers. The airport is also investing more than €10 million over the next three years in the renovation, maintenance and upgrading of terminal structure with elevators, escalators and revolving doors as well as the construction of new sanitary facilities.
