Financial performance

The COVID-19 pandemic hit the aviation industry on an unprecedented scale in 2020. Airlines, air navigation service providers, airports as well as tour operators all suffered. Air traffic plummeted worldwide, in Germany to a level last recorded in 1989. In economic terms, this led to a net loss of €94.0 million in 2020, following a net income of €34.8 million in 2019. 

Because of the offsetting of the carry-over from previous years, revenues from air navigation services increased slightly. Actual operating revenues decreased massively, however. Overall, Group earnings were impacted by material special items resulting from the COVID-19 pandemic. 

The commercial business also recorded a net loss of €7.4 million (previous year: net income of €1.1 million).