Malta International Airport plc - Interim Directors’ Statement

On 17 November, Malta International Airport plc published its Interim Directors’ Statement updating the market on its performance since the publication of its interim results as at 30 June 2015.

MIA revealed that the disposal of its 10% shareholding in Valletta Cruise Port plc gave rise to a pre-tax gain of €1.86 million. Meanwhile, the Company’s financial position remained sound on the back of positive passenger movements (January to October 2015 up by 7.4% when compared to the corresponding period last year). In July 2015, MIA had revised upwards its passenger forecast for 2015 to +4.6% to an estimated throughput of 4.5 million passengers. The airport operator is now expecting to exceed 4.5 million passenger movements during 2015.

Moreover, MIA explained that it intends to extend the Winter Landing Fees incentive introduced in 2011 for another year, resulting in lost revenues of approximately €1.3 million.

The Directors are expecting MIA to register better financial results than those that were projected at the beginning of this year and from the actual results of 2014 when the company registered a profit after tax of €16.8 million.