VINCI Airports – Releases of London Gatwick Airport
28 August 2020 - 8:30 am - Finances - France
London Gatwick Airport, a 50.01% subsidiary of VINCI Airports, today released its half-year results as at 30 June 2020, including the compliance certificate (which sets out the level of the financial covenants associated with the financial structure of Gatwick Funding Limited).
The company states that it has entered into discussions with its lenders, in light of the forecast impact on its financial covenants.
It also announced a restructuring plan to reduce costs in response to the sharp decline in traffic. Passenger numbers in August were more than 80 per cent down compared to the same period a year ago.
The documents released can be found on the company's website:
About VINCI Airports
VINCI Airports, as the leading private airport operator in the world, manages the development and operation of 45 airports located in Brazil, Cambodia, Chile, Costa Rica, the Dominican Republic, France, Japan, Portugal, Serbia, Sweden, the United Kingdom and the United States. Served by more than 250 airlines, VINCI Airports' network handled 255 million passengers in 2019. Through its expertise as a comprehensive integrator, VINCI Airports develops, finances, builds and operates airports, leveraging its investment capability and know-how to optimise the management and performance of existing airport infrastructure, facility extensions and modernisation projects. In 2019, its annual revenue for managed activities amounted to €4.9 billion, for a consolidated revenue of €2.6 billion.
VINCI is a global player in concessions, energy and construction businesses, employing more than 260,000 people in nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.