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International Internet Magazine. Baltic States news & analytics Friday, 29.05.2020, 02:54

EUR 130 mln to be invested into Vilnius Airport over 4 years

BC, Vilnius, 23.05.2019.Print version
Around 130 mln euros will be invested into the expansion and reconstruction of Lithuania's largest Vilnius Airport over the next four years, until 2022, and annual revenue of Lietuvos Oro Uostai (Lithuanian Airports, LOU), the sate-run operator of three airports in Lithuania, is set to grow by around 43% to 63 mln euros, informed LETA/BNS.

The company's EBITDA margin is forecast to increase by 45-56% in 2019-2022, from 40 percent last year, according to Lietuvos Oro Uostai's 2018 report.

"Vilnius Airport's existing infrastructure is not adapted to the existing passenger flows and does not meet the minimal passenger experience rates which are critical if Lithuania wants to expand its accessibility map by attracting new airlines, launching new routes as well as maintaining its passenger growth potential," the document reads.

Started last year, the reconstruction of Vilnius Airport is set to continue until 2022. It will include the expansion of the passenger terminal northwards, the expansion of the northern apron and also the construction of a new VIP terminal.

Following the airport's modernization, it will be capable of servicing 2,400 passengers per hour during peak times and 7.5 mln passengers per year, compared to 4.9 mln passengers serviced in Vilnius last year.

Moreover, the construction of a multi-storey car park is scheduled to be finished at Vilnius Airport by the end of this year, and it will house a car rental center, charging stations for electric cars and will provide other services.

Lietuvos Oro Uostai posted almost 44 mln euros in revenue last year, up 32.9%, with the majority of it coming from its main activity accounting for 29.4 mln euros, up 34.2% y-o-y. Its net profits more then trebled to 8.4 mln euros last year.

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