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Airport operator’s 2018 profit rises 18 pct

The local airport operator has reported a profit of 532 million patacas before preferred dividends last year, a year-on-year increase of 18 percent.

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UPDATED: 22 Dec 2023, 5:46 am

The local airport operator has reported a profit of 532 million patacas before preferred dividends last year, a year-on-year increase of 18 percent.

A preferred dividend is a dividend that is accrued and paid on a company’s preferred shares.

According to a Macau International Airport Company Limited (CAM) statement, the operator’s net profit after tax reached 435 million patacas last year.

The statement was issued after Friday’s ordinary meeting of the company’s annual general assembly.

Addressing a press conference after the meeting, CAM General Assembly President Charles Lo Keng Chio said that the airport (MIA) recorded a total income of 5.52 billion patacas last year, up 11. 6 percent year-on-year.

According to the statement, the south extension of the airport’s passenger terminal building will become operational this year, which will increase the capacity of the terminal building to 10 million passengers a year.

The statement also announced the launch of a string of airport check-in service centres in the Greater Bay Area (GBA), While the first centre opened in Zhongshan last month, the one at the Hong Kong-Zhuhai-Macau Bridge (HZMB) checkpoint is slated to start operating in the second quarter, to be followed by centres in Jiangmen and Guangzhou at a date still to be announced.

The statement pointed out that all the centres will provide an “express link” service to the local airport.

According to the statement, the company expects 8.7 million passengers, 42,750 tonnes of cargo, over 69,000 general aircraft and 3,438 business jet movements (takeoffs and touchdowns) this year.

CAM, which was founded in 1989, has a 50-year government concession until 2039. The government owns 55.24 percent of the company’s 4.96 billion patacas registered capital. Former casino monopoly operator STDM owns 34.1 percent, while the remainder is separately owned by mainland Chinese, Hong Kong and local interests.(Macaunews)

UPDATED: 22 Dec 2023, 5:46 am

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