Malta International Airport plc - Interim Directors’ Statement

On 17 November Malta International Airport (MIA) published its Interim Directors’ Statement explaining that since the commencement of the second half of the year, the financial position of the Company has remained sound. However, passenger traffic for the 4 months to 31 October has been less than forecast (with passenger departures declining by 0.7% and aircraft arrivals down 9.1%). MIA expects this decline to continue throughout the remaining months of 2008 and early 2009.

As such, MIA is currently expecting a 5% increase in passengers for 2008 following the strong first half of 2008, compared to the 6.8% growth expected at the beginning of the year. As a result, the Directors expect the Company’s financial results for 2008 to be on the same level as those in 2007 and in line with projections made at the beginning of the year.

Meanwhile, MIA explained that it continued its programme of enhancing the Air Terminal and improving the facilities for passengers and visitors. By the end of the year more shopping areas will come on line whilst the whole project is expected to be completed by June 2009.

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