Macao’s flagship carrier, Air Macau, suffered a net loss of 386 million yuan (US$54 million) in the first half of this year, according to the 2025 mid-year financial report of Air China, the parent company of the Macao-based carrier.
When compared to the 378 million yuan (US$52.92 million) loss during the same period last year, the current figure represents an increase of 2.11 percent.
In terms of revenue, Air Macau earned 1.5 billion yuan (US$210 million) during the first six months of 2025, up by 1.97 percent year-on-year. The flight operator’s capital also experienced a significant reduction, falling from 842 million patacas (US$104.97 million) at the end of 2024 to the current 237 million patacas (US$29.54 million).
Meanwhile, Air China’s stake in Air Macao grew from 66.92 percent at the end of the year to the current 74.94 percent, a jump of 8.02 percent.
[See more: Air Macau’s financial woes deepen with a significant 2024 loss]
As of the end of June, Air Macau transported roughly 1.56 million passengers via its fleet of 22 planes. As well, the flight operator’s average passenger load factor, a measure of the amount of seats occupied on flights, reached 77.84 percent, an increase of 0.81 percent year-on-year.
Air Macau has reported considerable losses in recent years, especially during the Covid-19 pandemic period, which saw it lose approximately 674 million patacas (US$84 million) in 2021, 871 million patacas (US$108.58 million) in 2022 and 175 million patacas (US$21.81 million) in 2023.
Last year, the company lost 677 million patacas (US$84.36 million), a growth of 187 percent year-on-year. At the time, Wu Lixin, a representative for Air Macau’s board of directors noted that the weak performance was due to the “impact of multiple factors in the post-pandemic period, such as intensified competition.”
Adding to its obstacles, Air Macau is poised to lose its monopoly over the SAR’s civil aviation market after the government passed the Civil Aviation Activity Law, which will gradually open the local sector to other carriers wishing to operate from the city.
