Munich Airport has reportedly achieved its best result in its history, achieving a record net annual profit of $191m for 2017.
The airport also reported a year-on-year increase of $123m in annual revenues to reach $1.85bn, a feat that achieved thanks to a 5.5% rise in total passengers that reached 44.6 million over 2017. Additionally, the Group’s findings noted the impact of the airport’s economic performance on neighbouring communities, which experienced a take in of business tax revenues of $43m.
Commenting on the airport’s performance over 2017, Dr Michael Kerkloh, the president and CEO of Munich Airport, shared: "This ensures that Munich Airport will be able to make the necessary investments to handle its future tasks with its own financial resources.
"All the signs point to a continuation of our very satisfactory performance so that we fully expect to report earnings at around the same level for 2018."
Part of the airport’s success can be attributed to the five Lufthansa Airbus A380 aircraft now stationed in Munich, which is utilised to operate daily services to Los Angeles, Hong Kong and Beijing. The German carrier has also added four plans from the Airbus A320 to its Munich fleet for medium haul flights.
Lufthansa has also expanded its fleet with additions of Airbus A350 long-haul jets, the airline operating eight of a total of 15 of these wide-body jets in service. It has had a substantial impact on the airport’s connections.
"The new long-haul services have greatly strengthened our airport's global network. Munich is becoming more and more attractive as a springboard for travel to other continents," Kerkloh added.
A recent release from Munich Airport noted Lufthansa subsidiary Eurowings is set to unveil new long-haul services from Munich to 15 intercontinental destinations. This includes destinations such as Cancun, Fort Myers, Mauritius, Montego Bay and Las Vegas, to name a few. Eurowings is expected to increase the share of low-cost carriers in total traffic in Munich to around 11% in 2018.