Union Airports of Georgia increased its income, while its profit decreased.
State company, owner of airports in the country, received an earning of GEL 85.74 million in 2022, which was GEL 18.9 million higher than the previous year. The increase was 28%. Eanings for per passenger decreased from GEL 26.85 to GEL 19.27.
Aviation revenues contributed GEL 51.6 million to the revenues, 14.18 million were non-aviation revenues, and 19.9 million were proceeds from the issued rights.
Despite the increase in revenues, the net profit was slightly reduced, which amounted to 18.9 million (2021 - 19.02 million GEL). The main reason is the net loss of 7.4 million from exchange rate changes.
The company owns international airports in Tbilisi, Batumi and Kutaisi, and also owns local airports in Mestia and Ambrolauri.
In 2022, the Union of Airports of Georgia increased the costs of marketing and development of destinations. If this cost was GEL 2.37 million in 2021, it increased to GEL 7.29 million in 2022.
