Swedavia continues to assist tenants through expanded rent relief measures for some 100 businesses at its airports
2020-04-27, kl. 13:50
Taking the Swedish government’s aid package for rent relief as its starting point, Swedavia is now giving rent reductions of up to 50 per cent for a total of some 100 businesses at its airports.
As early as mid-March, Swedavia introduced rent relief measures for some 50 businesses with restaurants and retail shops at Swedavia’s airports. Last week, Swedavia also took the decision to make full use of the government’s aid package for rent relief but also to expand this assistance by introducing rent relief for some 50 businesses not covered by the government’s aid package.
As a result, some 100 businesses at Swedavia’s airports will get rent relief of up to 50 per cent.
“We are concerned about our partners, and we realised early on that the situation would be really difficult for many tenants. We therefore decided as early as March, before the aid package, to do away with the minimum rent for our restaurants and shops. Thanks to the government’s aid package, we can now both continue and expand our assistance,” says Charlotte Ljunggren, Director of Marketing & Commercial Development at Swedavia.
Swedavia’s initial rent relief measures entailed a reduction in the minimum rent for businesses with retail, shops and restaurants (Retail, Food and Beverage) of 100 per cent during a limited time and allowed them to only pay sales-based rent. Shops and restaurants were already affected by the reduced flow of passengers at the company’s airports.
“In addition to Swedavia making use of the government’s aid package to the full extent, the rent relief measures are being expanded to also include businesses at the airports that are strongly affected by the reduced passenger flow but that cannot take advantage of the government’s rent relief measures,” says Charlotte Ljunggren.
This involves some 50 businesses, which will now get rent relief of 25 per cent even though they are not covered by the government’s aid package. Furthermore, all businesses covered by the government’s aid package but not included in the assistance measures decided by Swedavia in March will be able to benefit from this retroactively.
The rent relief measures that Swedavia has now decided follow the timeframe in the government’s aid package and are in effect until June 30. Swedavia will review the impact on operations at its airports on an ongoing basis taking into account any adjustments the government makes in its package.
“The entire sector and Swedavia too face an extremely challenging situation. We basically have no operating revenue and right now are losing about 500 million kronor in revenue a month, but at the same time we are also dependent on the survival of our partners and tenants. Thus, despite our situation, we are trying to do everything we possibly can to help so that together we will be able to get through this crisis,” says Charlotte Ljunggren.
For further information, please contact Swedavia’s press office at tel. +46 (0)10-109 01 00 or firstname.lastname@example.org.