Royal Schiphol Group will invest €6bn (US$8bn) to improve the airport facilities between 2024 and 2029.
Schiphol’s 2024-2029 investment portfolio
According to the airport, several pieces of important airport infrastructure are due to undergo major maintenance or renewal. This includes Pier C, climate control systems, escalators, aircraft stands and taxiways. As part of the investment program, Pier A will also be completed and new construction projects like the new baggage basement will start. The investment portfolio is intended to improve passenger and employee facilities.
So far in 2024, several new facilities such as new shops and restaurants in the lounges have opened their doors. However, a lot of work is still to be done, so the maintenance and renewal works will continue for the years to follow, extending the previously communicated investment plans.
Passenger experience
Pieter van Oord, CEO of Royal Schiphol Group, said, “In my first three months, I am impressed by the resilience and passion of our colleagues. We are proud to once again fulfill our crucial role in connecting the Netherlands to the rest of the world. Every day our colleagues do their utmost for the passengers. They make the difference, with a successful May and summer holiday as good examples. Unfortunately, they are not helped by the state of our infrastructure. Our infrastructure is the foundation of our service but is currently far from what we want to offer our passengers as a quality airport in the Netherlands. We have a major investment plan of €6bn [US$8bn] because it is crucial to bring back passenger satisfaction and top service to our airlines. At the same time, we need to restore the balance between the benefits and burdens of Schiphol. We are and will remain committed to reducing our noise impact on our surroundings and to improving the working conditions of all employees at our airport.”
Robert Carsouw, chief financial officer of Royal Schiphol Group, added, “Although it is encouraging to see that our financial results are improving and that our balance sheet is strong, our overall financial performance is not yet satisfactory. Increasing operational costs and the investment portfolio put heavy pressure on our current and long-term cash flows. It is in everyone’s interest that Schiphol once again becomes a high-quality airport with robust infrastructure and excellent service to our passengers and airlines. Our investment plans of €6bn [US$8bn] in the next five years are larger than ever before and fundamental to achieving this. Realizing our ambitions requires a significant step-up and acceleration of our operational cash flows, without losing focus on our competitiveness.”
In related news, the second phase of the trial of electric self-driving buses recently started at Schiphol Airport. Click here to read the full story.