BAKU, Azerbaijan, November 4
By Tamilla Mammadova – Trend:
TAV Georgia revealed the main costs of the airport, Trend reports via Georgian media.
Operating expenses - 27.6 million lari ($8.5 million);
Salary expenses - 23.4 million lari ($7.2 million);
Depreciation - 20.9 million lari ($6.4 million) and profit tax - 31.9 million lari ($).
According to the management report, the passenger flow planned by TAV Georgia in 2020 was reduced by 86 percent. In total, the company predicts a decrease in revenue of 133 million lari ($9.8 million) this year.
"The flow of real passengers in the first eight months of 2020 was reduced by 86 percent compared to the previous year when the airport served 2.65 million passengers in the first eight months of 2019. In 2020 we received only 515,000 in the same period, which is 5 times less. As for the number of aircraft in the first 8 months of 2020, the decrease compared to the previous year is 78 percent and compared to the budgeted 79 percent. Thus, the impact of the pandemic on business turned out to be enormous. In terms of revenue, the data for the 8 months of 2020 is quite weak compared to 2019. Revenues decreased to 144 million lari/$44.5 million [-74 percent] compared to the budget, and to 133 million lari ($41.1 million) [-73 percent] compared to the same period last year. According to the company's annual forecast, 2020 will close with a 64 percent decline in revenue," the management report said.
TAV Urban Georgia is a member of the TAV Airports Holding Group, which started operating in Georgia in 2005. According to the existing contract, the company will be the operator of Tbilisi International Airport until 2027.
According to the audited financial report, the main controlling party of TAV Holding itself is the French Aéroports de Paris.
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