Posted: 3 weeks ago

Tea Zakaradze on Financial Loss of TAV Georgia in 2020

TAV Georgia, the operator of Tbilisi and Batumi international airports, talks about the financial loss of 2020. According to Tea Zakaradze, Deputy General Manager of TAV Georgia, against the background of the COVID-19 pandemic, the airports are virtually closed, there is no passenger flow, and therefore no revenue.

Tea Zakaradze says that in 2020, compared to 2019, TAV Georgia's financial revenues decreased by 76%.

"The loss is truly unprecedented. It was a really difficult year not only for us but for a company working in the aviation sector all over the world. Given that the airport operated in January and February 2020, the data you have today is actually January-February data. We will close with 590 thousand passengers in 2020, which is the number that was in 2005. As for the loss, due to the fact that it worked for 2 months at the airport, the loss for this stage is 76%, and in the number of passengers, again for those two months, 83%. If we compare the data of November 2019 with the data of November 2020, the number of passengers has decreased by 98%.

In 2020, compared to 2019, the company's loss is 76% in financial terms. This data is also included in the January-February figures, when the airport was operating, however if we move on to the following months the loss is 90%.

"As for Batumi Airport, the loss is 99% and the airport has been closed for 10 months already," said Tea Zakaradze, Deputy General Manager of TAV Georgia, in the business morning rubric "Conversations on Aviation".