Genève Aéroport returns to profitability


The year 2022 is marked by a strong recovery in activities. Genève Aéroport return to a positive result. After deducting the profit share paid to the canton of Geneva, the profit amounts to 46.3 million francs against a loss of 88.9 million francs in 2021. Passenger numbers more than doubled in one year, from 5.92 million in 2021 to 14.08 million in 2022 (+137.8%). Total landings and take-offs increase by 64.4% compared to 2021.

In 2022, Genève Aéroport records a profit of 61.8 million francs before retrocession to the State of Geneva and 46.3 million francs after retrocession. Under the combined effect of strict control of operating costs and the increase in aeronautical charges, Genève Aéroport improves its profitability. The EBITDA margin increases by +5.7 points compared to 2019. This good result allows the Airport to reduce its debt by 88 million francs to 685 million francs at the end of 2022. Genève Aéroport is now beginning its debt reduction process.

Driven by the recovery in passenger traffic, revenues for 2022 are up 102.4% on 2021 to CHF 423.1 million. Aeronautical revenues are up 130.7% on 2021. This is due to the increase in traffic and the full-year effect of the CHF 4.45 per passenger fare increase effective 1er July 2021. Non-aeronautical revenues (shops, car parks, rents, etc.) increase by 72.5%.

Operating expenses increase logically with the return of activity and reach 264.7 million francs at the end of 2022. Non-staff operating expenditure increase by CHF 20.1 million to CHF 119.3 million (+20.3% compared to 2021) and are lower than projected due to strict cost control at all levels of the company.

Personnel costs for 2022 are under control and increase by CHF 19.9 million compared to 2021 due to the end of the reduced working hours (RHT) system. In a still fragile financial situation, the Airport has remained on a value-for-money basis. The company's workforce reduce from 997.9 full-time equivalents (FTEs) at 31 December 2021 to 971.8 at 31 December 2022.

Return of air transport

In 2022, Genève Aéroport handle 14,085,280 passengers, 137.8% more than in 2021, but 21.4% less than in 2019. During the last twelve months, total landings and take-offs reach 163,168 movements, 64.4% more than in 2021. This figure is still lower (-12.3%) than the 186,043 movements recorded in 2019. In the business aviation sector, aircraft movements increased by 16% in 2022. These two indicators (aircraft movements and passengers) point to an end to the crisis and the beginning of a stabilisation phase for Genève Aéroport.

Air freight activity shows 18.67% growth with 70,566 tonnes handled, helped by the return of capacity on wide-body aircraft and the economic situation.

Helping to limit noise emissions at the airport, the share of category 5 airliners and charters, which are quieter and consume less fuel, increase from 18.75% in 2019 to 22.25% in 2021 and 24.95% in 2022. Together, the two best classes (4 and 5 respectively) account for 90.98% of movements this year.

Back to the pre-Covid connection network

With the return of Air China in February 2023, Genève Aéroport regains its full pre-crisis long-haul network. Genève Aéroport’s service has increased from 139 destinations in 2021 to 146 destinations in 2022.

In 2022, the top 5 destinations by city are London, Paris, Porto, Lisbon and Amsterdam.

The market shares of the top ten airlines for the past year were as follows: easyJet (49.6%), SWISS (11.5%), British Airways (4.7%), Air France (3.9%), Iberia (2.9%), KLM Royal Dutch Airlines (2.3%), TAP Portugal (2.1%), Turkish Airlines (2%), Lufthansa (1.9%) and Emirates (1.6%).

Progress on the road to energy transition

2022 is a year of recovery in terms of investment in the airport's infrastructure. 140 projects are carried out (compared to 75 in 2021), for an investment of some CHF 60 million. 

An essential project for Genève Aéroport’s energy transition is underway: the connection to SIG's GeniLac ecological thermal network. From 2026, the airport will be able to cool and heat its buildings with water from the lake, which will enable it to reduce its carbon dioxide emissions by 60%.

Genève Aéroport publishes its annual report in digital format with texts, images and videos as well as a reminder of the highlights of the last twelve months.