On 12 January, Malta International Airport plc issued a company announcement revealing the 2017 traffic results and the passenger forecast for 2018.
During 2017, MIA registered a 17.5% increase in passenger movements to a record of 6.01 million movements (2016: 5.12 million) reflecting the 15% increase in aircraft movements which consequently led to an increase of 18% in seat capacity. Meanwhile, the seat load factor eased from 83.3% in 2016 to 82.4% in 2017 in line with European trends.
MIA also noted that its top markets for 2017 all registered growth. Indeed, passenger numbers from the United Kingdom increased by 8.9%, Italy (+14.8%), Germany (+20.9%), France (+20.6%) and Belgium (+109.2%).
In addition, the airport operator also noted that double-digit growth was registered in each month during 2017 – the first time in the airport’s records. This achievement reflects the results achieved from the strategy developed by MIA, the Ministry for Tourism and the Malta Tourism Authority to promote Malta as a year-round tourist destination.
MIA also provided an update on the works on the terminal reconfiguration project which are expected to be concluded this year. In fact, MIA explained that most of the terminal improvements falling within Phase 1 of this project have been delivered with the focus now shifting to the Check-In Hall which will be equipped with eight additional check-in desks and a new Baggage Handling System by the summer of 2018. MIA will also be investing a further €8.8 million in terminal and airfield improvements, airport operations and security as well as a new cargo village during the year.
2018 Forecast & Financial Targets
Following the eight consecutive year of record passenger movements in 2017, MIA is expecting a further growth in passenger numbers of between 7% and 9% to around 6.5 million for 2018. The projected growth is largely based on the growth in the summer schedule as 16 new routes (including flights to Portugal) are expected to be introduced during the summer raising the airport’s destination network up to 100 routes.
Furthermore, MIA also presented a set of financial targets for the upcoming 12 months. MIA is expecting to generate over €87 million in revenues in 2018 which should lead to an EBITDA figure of over €52 million and a net profit of over €28 million. MIA is also budgeting €11 million for capital expenditure whilst its net debt is expected to be below zero by the end of 2018. Furthermore, annual taxes and dividend contributions to Government are expected to be in the region of €18 million.