BUSINESS

Sarajevo Airport estimates a Loss of 6.8 Million Euros

Sarajevo Airport has begun tender procedures to raise funds in the form of a loan amounting to 8.5 million euros.

The airport, like others, has been hit by the coronavirus pandemic, and at this point estimates a loss of 6.8 million euros for 2020.

The airport has slowed down the construction of its new passenger terminal and other infrastructure upgrades taking place. A public call for an airline willing to open a base in Bosnia and Herzegovina’s capital next year was completed recently, with Sarajevo to offer various incentives for the selected carrier, Ex-Yu Aviation news writes.

In May 2020, the number of air operations decreased by 81%, and total revenues decreased by 93% compared to May 2019. All of the above could result in a reduction in the number of passengers by about 65% and operating income by 67% compared to 2019 by the end of 2020. 

The total decrease in revenue from January 1 to May 31, 2020, compared to the same period last year, amounts to about 9.5 million BAM, and on May 31, 2020, a loss of 5 million BAM was recorded. 

In the same period of the previous year, the profit was realized, which after taxation amounted to 2.6 million BAM. According to all relevant indicators, the projected loss for December 31, 2020 is about 13.3 million BAM. 

It is estimated that the return to last year’s results will take at least two to three years. Due to all this, Sarajevo International Airport, through the Federal Ministry of Transport and Communications, addressed the Government of FBiH with a request for direct and non-refundable financial assistance. 

Today, the government, also on the initiative of this airport, decided that the current Decision on Passenger Tax – a fee for the development and improvement of air traffic in the Federation of BiH will not be applied until December 31, 2021.

Leave a Comment