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Macao airport operator hit with MOP 519 million net loss last year

Cargo volume rises 45.7 per cent year-on-year to 49,000 tonnes, a 15 per cent increase compared to pre-pandemic levels in 2019.

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Cargo volume rises 45.7 per cent year-on-year to 49,000 tonnes, a 15 per cent increase compared to pre-pandemic levels in 2019.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 4:45 am

Macao airport operator CAM incurred a net loss of MOP 519 million last year, “representing a loss reduction of 20.4 per cent year-on-year”.

Macau International Airport Company (CAM) announced its 2021 results and statistics after its Annual General Assembly Ordinary Meeting on Wednesday.

According to CAM, 80 per cent of last year’s net loss was due to “non-cash” depreciation expenses.

According to CAM, the single-runway airport in Taipa registered 1.15 million passengers last year, a year-on-year drop of 2.2 per cent. The operation of business jets fell 49 per cent, with 309 take-offs and landings. Cargo volume rose 45.7 per cent year-on-year to 49,000 tonnes, representing a 15 per cent increase compared to the pre-pandemic level in 2019.

The company said that the estimated total revenue of the airport’s “main operators” (including CAM) was estimated to have reached MOP 2.06 billion last year, a year-on-year growth of 42 per cent.

In 2021, CAM recorded a revenue of MOP 581 million, a year-on-year growth of 25.8 per cent. However, last year’s revenue accounted for only 30 per cent of the one in 2019, CAM acknowledged.

CAM, the airport’s concessionaire, is owned by the local government (55.24 per cent), former gaming monopoly company STDM (34.10 per cent), with other local investors as well as those from Hong Kong and the mainland separately holding the remaining shares. 

 

UPDATED: 22 Dec 2023, 4:45 am

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