SCHWECHAT AIRPORT DEVELOPMENT FORECAST AS A RISK MANAGEMENT TOOL TO ADDRESS THE IMPACT OF THE COVID-19 PANDEMIC

Abstract

The COVID-19 pandemic has affected all areas of our society. The effects of the pandemic on the economy have not only affected mainly the development of transport and tourism but most especially air transport. Many airports in Europe and around the world have experienced a drop in passengers and cargo due to the COVID-19 pandemic. For many airports, this period, which began in 2019, meant huge losses due to a drop in passengers, leading to the collapse of several airlines. Despite the gradually improving situation, the impact of the pandemic is still being felt, and the number of passengers at airports is growing rather slowly. Thus, airports had to deal with the current situation and adapt their future operation to the current conditions. Even the leading airport in Central Europe - the Schwechat Airport in Vienna - was not spared from the effects of the current pandemic. This article aims to evaluate the effects of the COVID-19 pandemic on Schwechat airport. It focuses on the analysis of the development of the airport before and during the pandemic up to the present. Further, this article describes the problems that Schwechat airport dealt with throughout the period, with the loss of passengers, delays and the collapse of carriers. Subsequently, this article is part of a study aimed at identifying the negative effects of the pandemic on air transport and related industries worldwide. Predicting the development of the airport is a very important aspect, especially for the company's management and should be part of the risk management of every company.