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Funds were also allocated to the continuing work at Pärnu Airport (EPU). At Tallinn Airport, €1.8 million was invested on the sorting system for outbound luggage, €1.4 million on expanding the Schengen departure area, €0.5 million on extending the outbound luggage area and €0.5 million on the construction of solar parks. The group invested a total of €6.1 million during the first half of the year (2022). “Strong demand is likely to remain in Q3, but the understaffing that’s affecting European airports and the impact this is having on their ability to serve passengers will limit flight growth.” “Regardless of the fact that our results for the first half of the year were good, we’re taking both inflation and COVID-19-related risks into account when looking ahead to autumn,” said Anneli Turkin, a member of the management board of Tallinn Airport.
Its positive financial result notwithstanding, the group continues to focus on the efficient management of costs. Tallinn Airport to develop new Hydrogen Valley As a result of the significant rise in the cost of utilities, expenditure has also returned to the pre-pandemic level despite the effective austerity measures implemented in previous years. Passenger numbers remain 21 per cent lower than in 2019, but due to growth in non-flight services, the group’s overall sales turnover has returned to the level it was at three years ago. The group’s expenditure in the first six months of 2022 was €25.4 million, while its EBITDA was €9.4 million.
Tallinn Airport’s income in the first half of the year totalled €30.9 million, of which €23.9 million comprised sales turnover directly linked to earnings from passengers and non-flight revenue. The dropping of all restrictions, the addition of new destinations to the airport’s flight schedule and people’s renewed interest in travelling saw air travel recover more quickly than expected. In that time the group earned €5.4 million in profits. A total of 1,202,989 passengers passed through Tallinn Airport (TLL) in the first six months of 2022, four times more than in the same period in 2021.