EXPLORING WAYS TO INCREASE PROFITABILITY OF AIRPORTS AFTER THE PANDEMIC CONSIDERING EU AND WORLD PRACTICES

Анотація

The pandemic has affected considerably all areas of business, specifically aviation industry. Under the conditions of COVID-19 spread and overcoming its negative consequences, the relevance of studying the ways to increase profitability of airports is growing. Previously used options are no longer effective due to new challenges and tasks enterprises face. COVID-19 impact on airport performance in the EU and other countries were considered, measures to overcome problems encountered which could be used by airports in Ukraine were analyzed. It can be already seen that airports and the entire air transport industry as a whole are gradually recovering from the predicament caused by the pandemic. The comprehensive measures implemented to address the crisis situation have had a positive effect, which is demonstrated by the growing profitability of these enterprises. The paper is devoted to identifying and analyzing possible directions of overcoming crisis effects by airport to become profitable again after the pandemic. As the result of the study the effective measures of increasing profit of airports were determined: cost reduction through optimization in various areas of operation through redundancy, optimizing daily costs, stopping purchases of irrelevant products, investing in implementing technologies to reduce costs in the perspective. Increasing revenues of the airport was considered through the attracting of new partners (airlines, freight carriers), conducting the analysis of customer needs and supply of necessary goods and services, increasing the number of freight traffic and others. It was outlined that the ways of improving profitability of the airport could vary, since measures that are effective for the particular airport could not work for another. Therefore, it is the main task for the airport management to make the deep analysis of all spheres and find bottlenecks. It was concluded that profitability is an indicator characterizing the efficiency of the airport in terms of its ability to generate profit and ensure the effective reproduction of resources used. At the same time, there are ways to increase profitability by optimizing the enterprise’s costs or implementing innovative solutions to help airport attract more customers.

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