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KERRY Airport has released the Annual Report & Accounts for the 12-month period ended 31st December 2020, reporting an Operating Loss after taxation for the period of €144,996 as compared to an after taxation Operating Profit of €1,020,341 in the previous year.
The Gross Revenue in 2020 reflects the severe decline in passenger numbers from a high of 369,836 in 2019 down to 82,959 in 2020.
This equates to a 78% fall and is reflected in the subsequent 60% reduction in Total Revenue.
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This year (2021) has continued the downward trend and passenger numbers in 2021 will reflect similarly to those of 2020.
However, the roll-out of vaccinations, which has accelerated, and the EU Digital Covid Certificate may well see a return to better revenues in late summer.
The Company remains fully financed from its own resources and does not rely on external sources of finance.
Commenting on the financials and the on-going operations of the Airport for the year, Mr. John Mulhern, CEO of Kerry Airport said: “It is difficult to reflect on 2020 without a profound sense of ‘what could have been’. Were it not for the total collapse of air travel resulting from the Covid-19 pandemic we would have undoubtedly continued our journey of growth. Sincerely, I must convey huge praise to the management and staff of Kerry Airport who, despite it all, came to work, worked tirelessly, and kept us going.”
He also thanked the Chairperson, Mr. Denis Cregan, and the Board of Directors, for their continued selfless support and direction, and the elected representatives in Kerry and the Department of Transport for their unwavering support throughout.
Commenting on the continuing challenges presented by the Covid-19 pandemic, John Mulhern said: “Whatever regret that we feel is tempered with great sadness for those who have lost their lives, lost loved ones and suffered from this virus physically and financially as well as great awe for the heroic efforts by so many to protect and care for us.
“In fact aviation, and indeed Kerry Airport, was called upon on many occasions to support that effort through enabling prompt access to Dublin and elsewhere for essential travel including for those requiring specialised healthcare. Kerry Airport is very proud that it managed to remain open throughout the pandemic to support emergency services.”
