LEM Antwerpen, operator of Antwerp Airport, Belgium, has reported a net loss of €658,000 for 2024, compared to a €81,000 loss the previous year. Turnover reached €4.83 million, slightly up from 2023, while total operating income stood at €10.81 million, largely supported by €5.42 million in government subsidies.
The airport attributes the wider loss to a combination of factors, including the temporary suspension of TUI flights during the peak summer season due to technical issues with the airline’s new Embraer E2 aircraft, as well as higher costs linked to environmental permit renewal, additional studies, and what management describes as “disproportionate” local environmental taxes.
Total assets stood at €10.5 million at year-end, but equity turned negative at €55,765. Long-term debt remains at €976,000, a subordinated loan from majority shareholder Egis SA, which also issued a “Comfort Letter” to guarantee the airport’s continuity. Cash reserves amounted to €973,000.
Management warns that 2025 is also expected to end in loss, with uncertainties over the payment of outstanding subsidies for 2020–2024 by the Flemish Government, the impact of stricter environmental regulations, and continued competition from other airports.
The airport employed an average of 38 full-time equivalent staff in 2024, up from 34 the year before.
This post was published on 6 August 2025 19:32
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