On 21 November 2011 Malta International Airport plc published its Interim Directors’ Statement to update the market on the Company’s’ performance since the publication of the half-year financial statements on 30 June 2011.
During the period under review, the financial position of the Company remained sound. For the second half of the year passenger traffic continued to increase compared to the same period of the previous year. Following the growth registered in passenger movements during Q1 and Q2 of 16.3% and 10.6% respectively, MIA registered an increase of a further 1.9% during the important summer months. MIA confirmed that this upward trend is expected to continue during the last quarter of 2011. In fact, MIA recently increased its 2011 passenger growth forecast from +3.2% to a rise of at least 4.5%.
In order to further stimulate traffic during this year’s shoulder/winter months (Nov 2011-Mar 2012), MIA also recently announced a 100% refund to all scheduled airlines on all their landing fees. Through this initiative, the airport operator anticipates that it will forfeit approximately €1.3 million in revenue from regulated fees.
In the Interim Statement, MIA also made reference to the slight delay in construction works of the new Sky Parks Business Centre. The building is expected to be inaugurated by the end of the first quarter of 2012.
In conclusion, the Directors announced that the Company’s financial results are expected to be ahead of the projected figures for 2011 figures and also of those registered in 2010 when MIA’s pre-tax profits amounted to €17 million. During the first six months of 2011, MIA registered an 11.4% increase in pre-tax profits to €6.29 million.