Amsterdam Schiphol Airport has announced its largest-ever investment plan, aiming to enhance infrastructure, improve working conditions, and elevate passenger and airline services. The airport will allocate €6 billion over the next five years to these crucial upgrades.
Passenger traffic at Royal Schiphol Group‘s airports has steadily increased, with a 9% rise in the first half of 2024.
Amsterdam Airport Schiphol welcomed 31.8 million passengers during this period, a 11% increase compared to the previous year. The number of flights to and from Schiphol also rose by 12% to 230,417.
These interim results highlight Schiphol’s financial recovery following several challenging years. The airport group’s underlying net result for the first half of 2024 was €99 million, while the operational cash flow after investments was negative €188 million.
Despite a smooth operational performance in May and during the summer holidays, overall passenger satisfaction remains below expectations.
Traffic and Financial Performance
The total number of passengers at Royal Schiphol Group airports in the Netherlands increased by 9% to 36.1 million. Air traffic movements at Amsterdam Airport Schiphol rose by 12% to 230,417, although this remains 5% below pre-COVID-19 levels. Cargo volumes increased by 9% to 0.7 million tonnes.
The underlying net result for the first half of 2024 was €99 million, compared to €44 million in the same period last year. The net result includes a fair value gain of €168 million due to external regulation.
CEO Pieter van Oord stated, “I am impressed by the resilience and passion of our colleagues. We are proud to continue connecting the Netherlands to the world.”
“Our colleagues work tirelessly to provide excellent service, as evidenced by our successful May and summer holiday operations. However, our infrastructure is currently inadequate to meet the demands of our passengers and airlines.”
“We have a significant investment plan to improve passenger satisfaction and restore top-notch service. At the same time, we must balance the benefits and burdens of Schiphol and reduce our noise impact on the surrounding communities.”
Between 2024 and 2029, Schiphol will invest €6 billion to modernize its airport facilities. Key infrastructure components, including Pier C, the baggage basement, climate-control systems, escalators, aircraft stands, and taxiways, will undergo major maintenance or renovation.
Additionally, Pier A will be completed, and new construction projects, such as a new baggage basement, will commence.
Outlook for 2024
Monthly traffic numbers in 2024 are increasingly approaching pre-COVID levels. During peak days in May and summer, Schiphol experienced more departing passengers than in 2019.
For the full year, the airport expects total passenger numbers at Amsterdam Airport Schiphol to range between 65 and 68 million, with an estimated 470,000 to 473,000 flights. As the average number of passengers per aircraft continues to rise, further increases in passenger numbers are anticipated.
Summary
Amsterdam Schiphol Airport’s ambitious investment plan represents a significant step towards improving its infrastructure, enhancing passenger experience, and solidifying its position as a leading international gateway.
By allocating €6 billion over the next five years, the airport aims to address key infrastructure deficiencies, modernize facilities, and improve operational efficiency. The increase in passenger traffic highlights the airport’s growing popularity and underscores the need for these investments.
While the financial results demonstrate a positive trajectory, continued focus on cost management and revenue generation will be essential for long-term sustainability.
Despite the improvements in operational performance, passenger satisfaction remains a concern. Addressing this issue will require a comprehensive approach, including enhancements to facilities, improved customer service, and effective communication.
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