By: The Quinnipiac University Economics Research Team, Nicholas Ciampanelli
The COVID-19 pandemic had dire impacts upon various sectors of the world economy, one of which was the airline industry. Prague’s Václav Havel Airport, the largest airport in Czechia, serviced a total of 3.665 million passengers throughout 2020. That is nearly an 80% decline in total passengers from the previous year. Additionally, total flights declined by 65%, totaling 54,163 flights throughout 2020. These flights were predominantly to Great Britain, France, Italy, Russia, and Spain.
With these changes in consumer behavior, the Václav Havel Airport reported monthly operating losses amounting to CZK 100 million, causing the airport to lay off 600 employees. The Václav Havel Airport losses carry considerable implications for the financial wellbeing of the Czech airline industry and for those abroad.
This article is based on: https://english.radio.cz/passenger-numbers-prague-airport-drop-nearly-80-percent-8706132