Malta International Airport plc - Five-Year Investment Plan & 2023 Forecasts

On 18 January 2023, Malta International Airport plc unveiled its five-year capital investment programme of €175 million for the evolution of the airport campus in line with the company’s vision to take passenger numbers beyond the record levels of 2019, whilst maintaining the highest levels of service and delivering on its climate-related pledges.

MIA explained that the design concept for the first phase of the Terminal Expansion Project has been approved and will result in the westward extension of the existing building. In the immediate term, an amount of €39 million is planned to be disbursed in 2023 and will include doubling the current footprint of the customs area, a covered walkway linking Park East to the terminal, and an additional two food and beverage outlets.

Meanwhile, works on the €40 million Apron X Project are ongoing and are expected to be completed by summer 2024. This project will boost MIA’s aircraft parking capacity and its ability to handle mixed-fleet operations.

MIA also stated that it expects passenger movements of 6.3 million in 2023. This represents a further 7.7% growth over the 5.85 million passenger movements of 2022 and translates to an 86% recovery of the record pre-pandemic traffic in 2019 which amounted to 7.31 million. Furthermore, the airport operator set out a number of financial targets for the 2023 financial year. MIA expects to generate revenues of €97 million (2019: €100.2 million), EBITDA of €59 million (2019: €63.2 million), and net profit of €29 million (2019: €33.9 million).