Macau International Airport Company Limited (CAM) has reported MOP1.19 billion (US$150 million) in revenue for 2023 amid a return of travellers in large numbers to the city and a surge in cargo volume, suggesting a yearly increase of 179.8 per cent. The encouraging performance resulted in a profit of MOP220 million, making 2023 the first profitable year in three years.
Company has released a statement saying,
The total revenue of the Company for the fiscal year reached nearly 1.19 billion (Macau Patacas, same below), with a yearly increase of 179.8%. Responding to the significant increase in flights movement and passenger volume, CAM recorded a profit of 220 million – the first profit after three years of losses.
CAM held its Annual General Assembly Ordinary Meeting on 27th March 2024, approving the 2023 Annual Report, Financial Accounts, Supervisory Committee Report and Proposal of Profit Appropriation.
In the meeting, it was resolved to increase the Company’s capital in view of the needs of the Macau International Airport reclamation and expansion project, and a resolution was also passed on the Hengqin Cargo Terminal project.
As per the company, in 2023, the global aviation industry began to recover from the pandemic crisis. Macau International Airport (MIA) welcomed 5.15 million passengers and handled over 42,500 aircraft movements, representing 54% and 55% of the pre-pandemic (2019) levels, respectively.
MIA also managed to reach cargo volume of 63,800 tonnes with a year-on-year increase of 24% and the operation of business aviation reached to 923 movements, more than double the previous year.
When it came to cargo volume, the company achieved a year-on-year rise of 24 per cent to 63,800 tonnes. In business aviation, a total of 923 flight movements were recorded, more than double the figure logged the previous year.
The company also announced that they would issue new ordinary shares this year in order to raise capital by MOP850 million for the airport’s expansion and reclamation project.
In the Annual General Assembly Ordinary Meeting, company said that the Korean Air has is planning to join MIA in July 2024 to develop connecting flight services from Macau to Europe and the United States via Seoul of South Korea.
