Malta International Airport plc - Quote

Malta International Airport plc - Profile

Malta International Airport plc (MIA) was incorporated on 16 May 1991 with the purpose of operating the new air terminal at Malta’s only Airport. Previously such operations were carried out by the Government through the Air Terminal Department.

Between 1 January 1992 and 1 May 1998, MIA’s sole activity consisted of the operation of Malta’s only Air Terminal. From May 1998, MIA plc took over the operation and management of the airfield facilities and the Air Traffic Control (ATC) of Malta’s Flight Information Region (FIR). With effect from 1 January 2002, MIA transferred all ATC operations to a newly established company wholly owned by the Government, Malta Air Traffic Services Ltd. Moreover, with effect from July 2002, MIA discontinued the operation of its Gozo heliport services.

MIA’s principal business activity is the operation of the Airfield at the Airport including the operation of the Terminal Building. The Company is licensed by the DCA to operate the aerodrome for a period of 65 years.

MIA’s revenue is derived from:

• Aeronautical / Aviation revenues, which are derived from passenger and aircraft traffic; and

• Commercial / Non-Aviation revenues, which comprise concession income, rents and other charges for services paid by airlines and other Airport operators and users.

In April 2008, MIA reached an agreement (effective from Decmber 2008) with NUANCE Group (Malta) Ltd with respect to a new retail set-up in the Schengen departures lounge, with an area of 670 square metres. This contract also entails a guarantee by NUANCE (a leader in the international airport retail sector) of a minimum revenue of €25.5million to MIA over a six year period until 2014.

Government Privatisation Process

As part of Government’s privatisation strategy, the Government of Malta sold 40% of MIA to Malta Mediterranean Link (MML) Consortium Limited in July 2002. As part of MIA’s privatisation process, the Company transferred back the Terminal Building and the Terminal Lands to the Government and was granted by the Government a title of temporary emphyteusis for a period of 65 years of the Terminal Building and Terminal Lands as well as the Aerodrome Sites.

Malta Mediterranean Link (MML) Consortium Ltd is made up of:

• VIE (Malta) Ltd (57.1%): This Company is owned by Flughafen Wien/Berlin Brandenburg International and Vienna International Beteiligungsmanagement Gesellschaft M.B.H, developers and operators of the Vienna International Airport.

• SNC-Lavalin (Malta) Ltd (38.75%): This Company is owned by SNC-Lavalin Inc and SNC-Lavalin International Inc of Canada. The SNC-Lavalin Group is one of the leading engineering and construction firms in the world and a key player in the ownership and management of infrastructure

• Airport Investments Ltd. (4.15%): The Company forms part of the Maltese Bianchi Group of Companies.

In November 2002, a further 20% of MIA was sold to the General Public through an Initial Public Offering of 13,530,000 ordinary ‘A’ shares at €1.70 per share.  A month later, MIA obtained a listing on the Malta Stock Exchange.

In October 2005, the Government of Malta sold a further 13,530,000 ordinary ‘A’ shares of MIA, representing another 20% of the issued share capital at the offer price of €3.261 per share.  The offer was oversubscribed, with a total of 4,090 applications received for 16,473,113 shares.

The Directors of MIA are: Ms Karin Zipperer (Chairman), Ms Jackie Camilleri, Mr Julian Jaeger, Mr Austin Calleja, Mr Louis M St-Maurice, Mr Michael Bianchi, Mr Markus Klaushofer, Dr Louis Degabriele (Company Secretary).

Subsidiaries

• SkyParks Development Ltd (100%) is a subsidiary company, fully owned by Malta International Airport plc, which has been set up to operate and market the new SkyParks Business Centre. The project, worth €16 million, boasts of a state-of-the-art 9-level building with a total rentable area of 14,000 metres squared. The Business Centre is intended to include office space, retail and commercial outlets, as well leisure facilities, with complimenting undergound parking. Vodafone Malta Ltd is the first anchor tenant to have secured space at SkyParks Business Centre, transferring its operations to the new headquarters site by the third quarter of 2011.

• Malta Airport Parking Ltd (100%): This Company took over the running of the car park business at MIA as from 1 March 2008 after MIA managed to negotiate the termination of the car park concession from the previous operator.

Share Capital

The issued share capital of Malta International Airport plc is 67,650,000 ordinary shares. This amount is composed of 40,589,995 ‘A’ shares with a nominal value of €0.4659 each which are listed on the Official List of the Malta Stock Exchange. The balance consists of 27,060,000 ‘B’ shares and 5 ‘C’ shares also of €0.4659 each. MML holds the ‘B’ shares whilst the Government of Malta holds the ‘C’ shares. The ‘B’ and ‘C’ shares are not listed on the Malta Stock Exchange.

A and B shares have the same rights, benefits and powers in the Company. However, ordinary A shares are freely transferred while B shares are non transferable for a period of 15 years from 26 July 2002. Ordinary C shares carry no voting rights and do not receive dividends.

Malta International Airport plc - Financials

Malta International Airport plc Interim Accounts

Malta International Airport plc Final Accounts

News for Malta International Airport plc

Malta International Airport plc - Downloads

• Malta International Airport plc - 2010 Half-Year Traffic Results Presentation - 15.07.10 (1.2 MiB, 45 hits)
• Malta International Airport plc - 2009 Results Presentation - March 2010 (4.2 MiB, 109 hits)
• Malta International Airport plc - 2009 Preliminary Results (462.9 KiB, 56 hits)
• Malta International Airport plc - Traffic Presentation January 2010 (7.1 MiB, 78 hits)
• Malta International Airport plc - Annual General Meeting Presentation April 2009 (4.9 MiB, 76 hits)
• Malta International Airport plc - Traffic Presentation January 2009 (1.7 MiB, 94 hits)