Letter from the Executive Board

Dear Reader,

It is with great concern and sympathy for all the people affected that we observe the ongoing Russian war of aggression in Ukraine. Aviation has always been driven by the idea of dialogue and exchange between people and nations. During war, these connections break down. The medium- and long-term effects of the conflict, for example on air routes, global supply chains, and the energy sector, are difficult to predict. We hope for a quick end of violence.

«We succeeded in limiting the airport’s losses and securing its liquidity and future viability.»

Nathalie Leroy

The year 2021 was also marked by the effects of the global Corona crisis. Nevertheless, after the dramatic, pandemic-related traffic slump in 2020, the past fiscal year showed a turn for the better. We are looking ahead again with confidence. The longing for travel and personal encounters is great, perhaps greater than ever. During the recent Easter vacations, traffic volumes at Munich Airport were already back up to around 70 percent. We expect to be back at pre-crisis levels starting in 2024, or 2025 at the latest.

We have used the past two years to further develop the company, to adapt to the changed environment with new goals, a leaner organization, and a revised strategy. We are entering new times: We feel a strong sense of team spirit within the Group, have joined forces across divisions, and have grown closer together. Everyone can and wants to make a contribution so that we maintain our top position among European airport hubs.

Jost Lammers, Nathalie Leory, Jan-Henrik Andersson (portrait photo)

Jan-Henrik Andersson
Chief Commercial
and Security Officer

Nathalie Leroy
Chief Financial Officer,
Chief Infrastructure Officer

Jost Lammers
President and Chief Executive Officer,
Personnel Industrial Relations Director

Even though air traffic has been developing positively since this spring, our company is still in a difficult situation. As expected, the balance sheet for the second year of the pandemic is not very encouraging: With revenue of around 601 million euros, we generated only 3.7 percent more in 2021 than in the previous year. One small ray of hope is that we were able to reduce our loss for the year (EAT) by 19 percent to 261 million euros.

Traffic figures recovered slightly to around 153,000 take-offs and landings. 12.5 million passengers – around 12 percent more than in the previous year – used Munich Airport for their traveling in 2021.

«Overall, we anticipate a significant increase in aircraft movements and travelers in 2022.»

Jost Lammers

The pandemic has shown that Bavaria’s gateway to the world also functions very well as a transshipment point for airfreight, especially for high-value products. The fact that Munich is being served by more and more cargo aircraft once again demonstrates the enormous potential that our airport offers as a hub for airfreight. In view of the export strength of the southern German economy and its close links with markets and production sites around the world, we believe there is still considerable scope for development here.

The air traffic of the future must become more sustainable. As an airport operator, we are committed to decarbonizing air traffic. The adversary is not aviation, but carbon emission. We need a fair and effective climate policy that does not put European airlines and airports in an unfavorable position than their global competitors. In Europe, we are very well positioned with our technologies to rethink air traffic. This is a huge opportunity. One important lever, for example, is low-emission, climate-friendly fuels known as Sustainable Aviation Fuels (SAF). In 2021, we reviewed our tank infrastructure and approved it for climate-friendly SAF. We encourage airlines at Munich Airport to use green fuel as much as possible.

«Munich Airport remains highly attractive as a key location for retail and gastronomy.»

Jan-Henrik Andersson

We are constantly driving forward the sustainable development of the site as part of our long-standing system partnership with Lufthansa. We were delighted that Lufthansa has now stationed twenty-one ultra-modern, extremely economical Airbus A350 long-haul aircraft at its Bavarian hub. Particularly in these challenging times, this is an important signal that will provide additional momentum and further strengthen Munich’s global connectivity.

Improved accessibility to the airport is also urgently needed on the landside: We keep emphasizing that Munich Airport needs the long-distance rail connection and the Deutschlandtakt. The link to regional and national rail traffic is also a top priority for us.

At this point, we would like to express our gratitude to all employees, the entire airport community, for their willingness to change and their commitment. The signs are now pointing to growth. We at Munich Airport are prepared to reach new horizons in these new times.

Yours sincerely,
Jost Lammers
President and Chief Executive Officer,
Personnel Industrial Relations Director

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