Aeroporti di Roma is an Italian fixed-based operator of Leonardo da Vinci-Fiumicino Airport - the busiest airport in Italy - and Roma Ciampino Airport since 1997. It is owned by the Italian holding company Mundys.
You became CEO of Aeroporti di Roma in April 2020, a challenging time for everyone in the aviation industry, but particularly for Italy as a nation. In hindsight, were you prepared for the challenges that were to come?
At the end of the day, we can say we have emerged from this tunnel in one piece, and in much better shape than before. We took advantage of the crisis to transform the company and make huge industry changes. One reason I took on this challenge was due to the financial difficulties we faced. We had all the costs, but zero revenues for an indefinite period. We definitely experienced tough moments and only ended up striking an agreement with our financial creditors in late July, which left us with months of uncertainty.
Drawing on my previous experience as CFO, I combined business managerial skills with financial expertise to steer the situation safely. We revised our strategic agenda to focus on key transformational tracks like sustainability and innovation. In those early days, sustainability and decarbonization were not as big themes as they are in 2024. Fiumicino had transformed from a nightmare airport in 2012 to one of Europe's best, and it was time to shape the airport of the future in terms of passenger experience and commercial opportunities.
Aeroporti di Roma reported 44.4 million passengers last year. In your opinion, what factors are driving the increased demand for travel, and is this a trajectory you expect to continue rising?
Back in 2020 and 2021, nobody knew when traffic would return. Many predicted permanent changes in travel habits, especially for business travelers, due to video meetings and cost-cutting policies, but none of that actually materialized. We anticipated the traffic's return, avoided layoffs, and with government support, managed to keep our staff. By 2022 and 2023, we were experiencing "revenge traveling".
And in 2024, we are seeing even more growth. Summer 2024 in Rome is expected to exceed summer 2023 by 20%, which is an enormous growth rate. The second fastest-growing airport in the Mediterranean will grow by 10%. People value travel as a fundamental pleasure of life, and a generational shift means younger people with disposable income are traveling more. The growth is strongly supported by the low-cost segment, and we believe this trend will continue as long as the macroeconomy remains supportive.
In addition to being the CEO at Aeroporti di Roma, you are also the chairman of the Foundation for the Decarbonisation of Air Transport which was established in December 2023. Can you tell us , what are the least sustainable parts of an airport's operations?
In terms of aviation operations, the most impactful activity is energy management. We are phasing out our fossil-based generation plant in favor of photovoltaic generation, aiming to release over 60 megawatts of photovoltaic power within the airport boundaries. The second major source of emissions comes from vehicles moving around the airport, which we aim to make net zero by 2030. For passengers, increasing rail access and electric vehicle usage is key.
Aircraft emissions on the ground, although smaller, are still significant. We have plans to reduce these emissions. The bigger challenge is reducing emissions during flight, for which sustainable aviation fuel (SAF) is a crucial solution. The EU has mandated blending targets of 6% SAF by 2030 and 20% by 2035. While these mandates are essential, aligning them with industrial realities is complex, and we are working to ensure the industry follows through on these commitments.
How are you leveraging digital technologies to not only enhance airport operations and passenger experiences, but assist in the structural recovery of your airports?
Innovation at the airport is not only about passenger experience but also about improving the complex infrastructure behind the scenes. We use artificial intelligence to monitor aircraft turnarounds, optimizing processes and alert us to any issues. We've invested in a company called Auxilia to help with this and are building an intelligent platform using IoT for predictive maintenance.
For passengers, we employ algorithms to help them choose the quickest queuing lines, improving their experience. We're developing an airport digital assistant, similar to Alexa, to provide real-time information and recommendations. For passengers with reduced mobility, we're working on an autonomous chair that allows them to navigate the airport independently. Another ambitious project is to revolutionize the security process with a system that scans passengers as they move through a corridor, potentially eliminating the need for traditional security checks.
