The Airline industry has been hit especially hard by the Coronavirus pandemic with just a handful of flights still operating, leaving airports practically deserted.
The alarm caused by the crisis, which has now lasted for more than a year, continues to devastate companies in the tourism and travel sectors, with there being little likelihood of a major improvement any time soon, as Spain seems about to enter the fourth wave of the pandemic.
As well as the airlines themselves, Aena, the Spanish company which manages airports across Spain, the UK and South America, also suffered heavy losses last year, and will surely continue to do so for some time in the future, as many of it’s airports continue to lie empty.
The company recently estimated that it will not return to normal levels of air traffic until 2026 so in its quest for survival, it is now taking measures to try to cope with the impact of restrictions on mobility and the collapse of the sector.
In a press release on Monday the company announced that it has obtained a loan with various financial groups that together reaches 700 million euros with maturities of between two and five years, which will be available until October 2021.
“Aena continues to adopt the measures that are considered necessary to reinforce its liquidity due to the situation created by covid-19 in its business activity,” the press release notes.
In 2020 Aena suffered it’s first annual loss since 2012, when it was publicly owned amounting to 126.8 million euros with its revenue from January to December reducing by 50.2 per cent year-on-year to 2,262.9 million euros
However, Company president, Maurici Lucena, foresees that air traffic will begin to recover “sometime next summer” thanks to the acceleration of the vaccination process and the immunity of those affected by covid-19 so far.