Toulouse-Blagnac airport: traffic only reaches 40% of pre-crisis attendance

the essential
In 2021, traffic only slightly picked up at Toulouse-Blagnac airport. Only 3.8 million passengers were transported compared to 3.1 million in 2020. This is barely 40% of the traffic recorded in 2019 before the crisis. Exclusively, Cécile Cambier, director of concessions at Eiffage, talks regarding the airport’s roadmap.

Toulouse-Blagnac airport still missed 60% of passengers in 2021. With only 3.8 million travelers, the airport platform is barely 40% of its pre-crisis activity level in 2019 After the black year of the Covid in 2020, the recovery in traffic was still timid last year. Only 700,000 additional passengers were recorded compared to 2020 where 3.1 million travelers had used the airlines of Blagnac. For the record, in 2019 the airport had 9.5 million passengers!

Air France, first company in Toulouse

International traffic was the most affected as it represented only 29.3% of that of 2019, the reference year. Domestic traffic held up better (49.9% of 2019). The Toulouse-Orly line remains the busiest, with one million passengers. Adding the link to Roissy Charles de Gaulle, the Paris destination alone represents 40.4% of the airport’s traffic with 1.5 million passengers. In the regions, the main line remains Toulouse-Lyon, with nearly 190,000 passengers transported. Air France remains the platform’s leading flag, providing 57.8% of domestic traffic. The number of aircraft movements remains 50% lower than in 2019 with 50,365 movements. Revenue barely recovered to €90.5m (€84.4m in 2020) with operating profit still in the red with a loss of €1.6m (compared to €11.2m in 2020).

“If the State wants to sell its 10%, Eiffage will position itself”

Cécile Cambier, director of concessions at Eiffage

Cecile Cambier.
DR

We are talking regarding 500 M€ for your acquisition of Toulouse airport. Did you buy at the right price?

We have a long-term vision as a shareholder and it is in this vision that the price must be assessed. For Toulouse-Blagnac airport (ATB) we will be shareholders until 2046. Concessions have their ups and downs. It is inevitable that over such long periods of time we will have to face crises. The airport is an asset in a territory, Occitanie, where we have a long-term presence with 3,200 employees, €690 million in turnover and 90 agencies. We are committed to contributing to the development of the territory and to acquiring assets such as Toulouse airport or in other areas. For the record, we operate the Millau viaduct until 2079.

In which areas do you wish to develop concessions?

We have acquired six micro power plants in L’Agout in the Tarn. Depending on the opportunities, we wish to strengthen ourselves in Occitania. In 2020, we bought a power plant in Auvergne as well as a portfolio in Haute-Garonne near Bessières for a total power of 3.6 megawatts.

In what state did you find the airport?

Toulouse airport is a fine asset that had received significant investment and we intend to maintain this continuity. The crisis, we will pass it because we are here until 2046 and we will adapt the investments to passenger traffic.

How many airports does Eiffage operate?

We operate two airports: that of Toulouse and that of Lille since 1^is January 2020 for twenty years. In the North, it is an acquisition that allows us to strengthen our portfolio in a region where we have historically been present.

Are you looking for other opportunities in airport management?

We will study the opportunities that arise. To date, there is no call for tenders in progress. Two airports might respond to our strategy: Beauvais and Cayenne.

Can we imagine concessions abroad?

We already operate dealerships outside of France. We are building a motorway in Germany, we operate a motorway in Senegal and hold partnership contracts in Belgium that are more building-related. We are currently looking at opportunities in Spain. Our strategy is to go to countries where we are already actors and employers to invest in the long term for concessions. These may be motorways, rail infrastructure, ports such as Villeneuve Loubet in the Alpes Maritimes and we are looking at opportunities in the field of renewable energies, hydroelectricity and photovoltaics, focusing on our own property assets.

If the State sells its 10% in Toulouse-Blagnac airport, will you be interested?

As a matter of principle and regardless of the vendors in our concessions, Eiffage is always ready to strengthen its assets. We have good financial health as well as significant financial means to invest in quality assets that we know well. The Eiffage group is continuously enriching its portfolio. In 2020, we bought out the minority interest in the A65 motorway between Langon and Pau. We will always position ourselves to strengthen our positions.

Do you have a shareholders’ agreement with the State?

In principle, relations between shareholders are subject to business secrecy, so we do not comment on this subject.

What relationships do you have with local shareholders?

We are working with the other shareholders in a calm and constructive way, which was all the more important in this period of a pandemic. We have the same objective: to contribute to the development of the airport and to promote the region.

When will Toulouse airport once once more generate profits?

Obviously, we strongly hope for a rapid return to the level of 2019. Market studies from last October were counting on a return of traffic to pre-crisis levels by 2024 – 2025. But the latest wave of Covid does not had not been taken into account. The restart will depend on the health context of the coming months.