On 30 July 2026, Malta International Airport plc published its interim financial statements covering the six-month period ended 30 June 2026.

Revenues for the interim period reached a record €82.5 million, representing an increase of 14.8% compared to the previous interim record of €71.9 million achieved in the corresponding period of 2025. This growth was driven by an increase of 15.6% in passenger movements between January and June 2026 to 5.25 million. ‘Aviation’ revenue grew by 15.6% to €57.7 million, whilst ‘Retail and Property’ revenue increased by 13.0% to €24.8 million.

MIA explained that the record traffic performance reflected a busier flight schedule, with seat capacity expanding by 16.9%, although the seat load factor eased by 0.9 percentage points to 82.7%. Improved performance was registered across all of the airport’s main markets, with passenger traffic from Poland surging by 52%, making it the fastest-growing market. New route developments during the period included the commencement of flights operated by Delta Air Lines from New York JFK, as well as the launch of new services to Palermo, Malaga, Cluj and Billund. On the other hand, both Qatar Airways and Emirates saw their services interrupted due to the geopolitical situation in the Middle East.

Total operating costs rose by 13.7% to €38.4 million, reflecting a higher level of activity across its operations, the increase in staff, and a higher depreciation charge. Operating profit increased by 15.7% to €44.2 million (H1 2025: €38.2 million). Excluding depreciation and amortisation, EBITDA reached €53.8 million, an increase of 17.8% over the €45.6 million recorded in the first half of 2025. Since the growth in revenue outpaced the increase in costs, the airport operator’s EBITDA and EBIT margins improved to 65.2% (H1 2025: 63.5%) and 53.6% (H1 2025: 53.2%) respectively.

After accounting for minimal net finance costs and a tax charge of €14.3 million, MIA reported a record interim net profit of €29.0 million, representing an increase of 18.5% over the corresponding period of 2025 and resulting in an annualised return on average equity of 24.7% (H1 2025: 23.5%).

The Statement of Financial Position as at 30 June 2026, when compared to the financial position as at 31 December 2025, shows that total assets increased by 4.3% (or +€16.0 million) to €388 million, which includes cash balances of €13.1 million.

Total liabilities increased by 4.3% (or +€5.74 million) to €140 million. Notably, MIA’s balance sheet now includes bank borrowings of €1.17 million drawn from the €5.4 million Malta Development Bank loan facility which is financing the Airfield Electrification Programme. Meanwhile, lease liabilities remaining virtually unchanged at €55.3 million.

Overall, MIA’s equity base expanded by 4.3% (or +€10.3 million) to €248 million.

The Board of Directors declared a net interim dividend of €0.06 per share, which is unchanged from the previous year. The dividend is payable by no later than Friday 11 September 2026 to all shareholders as at close of trading on Tuesday 18 August 2026.

Capital expenditure for the first six months of 2026 amounted to €24.8 million, as MIA continued to implement the €345 million five-year investment programme announced at the beginning of 2025.

After the completion of the first phase of the Terminal Expansion Project in 2025, works progressed on the second phase of the project which is extending the terminal eastwards. The extended facilities will occupy a gross floor area of 26,000 sqm and will provide an additional 32 check-in desks, five departure gates and a crew gate, alongside further circulation and commercial space. In parallel, the core area of the terminal building is being overhauled through the Central Reconfiguration Project, which has already doubled the number of pre-security gates and improved passenger circulation.

Significant progress is also being made on the construction of Sky Parks 2, which will extend over a gross floor area of 70,000 sqm and provide 24,000 sqm of parking space, with the third block set to house a business hotel operating under Accor Group’s Tribe brand. The hotel building is planned to be handed over to the operator by the end of 2026, whilst the full project is targeted for completion by the end of 2027, with handover to tenants commencing in 2028. Meanwhile, works are ongoing on the Airfield Electrification Programme, which is co-funded by the European Commission and scheduled for completion by 2028, and is expected to reduce emissions by approximately 1,000 tonnes of CO2 annually.

During the period under review, MIA secured €100 million in external financing from a local bank, consisting of a €50 million loan with a five-year term and another €50 million loan with a seven-year term. This financing will support the delivery of the large-scale infrastructure projects within MIA’s investment programme.

In their commentary, the Directors explained that geopolitical tensions and market instability are expected to persist into the coming months, contributing to slower growth towards the end of the year, with the renewed closure of the Strait of Hormuz resulting in jet fuel prices that are significantly higher than pre-crisis levels. Nonetheless, demand for travel is expected to remain strong beyond the summer months, with the European Travel Commission reporting a marked increase in interest in Southern and Mediterranean destinations for travel between June and November 2026.