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General Aviation

Traffic data

In 2018, Business and General Aviation in Europe recorded a 1.8% growth in movements, reaching pre-crisis figures of 2008. Italy, with movements in line with FY 2017 (+0.1%), is the fourth market in Europe with a 7% market share (source: Wingx). General Aviation at the Milan Linate and Malpensa Prime airports, with 25.9 thousand movements, grew by 2.5% and ranks fifth in Europe in terms of traffic served (after London, Paris, Nice and Geneva). It is ranked first in Italy where it holds a 40% market share.

Revenues

General Aviation revenues amount to Euro 11,344 thousand, reducing Euro 784 thousand (-6.5%) on the same period of the previous year.

The decrease in revenues is mainly due to a reduction of Euro 266 thousand in fuelling income and various income recorded in 2017 arising from time-barred claims, amounting to Euro -514 thousand.

Operating costs decreased to Euro 473 thousand (-10.9%) principally as a result of the reorganisation involving the centralisation of administrative operations at the parent company, with the consequent creation of efficiencies at business unit level.

EBITDA and EBIT

As a result of the developments outlined above, EBITDA for the year 2018 was Euro 7,488 thousand, down by Euro 311 thousand (-4.0%) over the previous year.

EBIT is up by Euro 171 thousand (+3.2%) due to the presence of doubtful debt provisions.

Investments

The General Aviation business’ principal investments are related to the Lambro River water management works, for which the completion of works and consequent testing are planned for the first months of 2019, and the commencement of works for the construction of the new general aviation terminal at Malpensa.