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Macau International Airport reports net profit of MOP 354 million for 2017

The airport’s total income rose 9.6 percent to MOP 4.95 billion last year. CAM’s total income reached MOP  1.4 billion, up 5.5 percent, according to the statement.

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UPDATED: 22 Dec 2023, 5:50 am

The government majority-owned Macau International Airport Company Limited (CAM) has reported a final net profit of MOP 354 million after tax and preferred dividends for last year.

According to a CAM statement issued after last week’s annual general meeting, the company earned a profit of MOP 451 million before the distribution of preference share dividends in 2017.

The airport’s total income rose 9.6 percent to MOP 4.95 billion last year. CAM’s total income reached MOP  1.4 billion, up 5.5 percent, according to the statement. The company’s aeronautical revenue rose 42.8 percent to MOp 602 million, while its non-aeronautical revenue grew 57.2 percent to MOP 804 million.

According to the Macau Post Daily, the statement pointed out that the company started to make a profit in 2012. The airport started commercial operations in November 1995.

The company’s slogan for this year is “You will get the respect from others only if you respect yourself,” the statement underlined.

According to the statement, CAM’s targets for this year are 7.38 million passengers, 50,000 flight movements 39,000 tonnes of cargo and 3,170 business jet movements.

The statement also said that the opening of the Hong Kong-Zhuhai-Macau Bridge later this year would increase Macau’s civil aviation market in the Greater Bay Area (GBA), adding that scheduled flights between Macau and Sabah and Macau and Moscow were slated to be launched between this and next month.

According to the statement, the airport currently services 47 destinations, mostly on the mainland and Taiwan as well as in a number of foreign countries.

Meanwhile, Air Macau’s profit leapt 243 percent to 70 million yuan (MOP 90 million) last year, the Portuguese-language Jornal Tribuna de Macau (JTM) daily has reported.

Last week’s JTM report cited Air China’s 2017 Annual Results Announcement. Air China owns around two-thirds of Air Macau.

The report pointed out that last year was the eighth consecutive year that the local flag carrier reported an annual profit.

Air Macau’s revenue rose 6.4 percent year on year to 2.83 billion yuan, according to the report.

The report also said that Air Macau carried 2.78 million passengers last year, a 0.74 percent dip. Its passenger load factor was 75 percent, an increase of 1.71 percentage points.

Air Macau was founded in 1994 and started operations with the opening of the local airport in 1995.

UPDATED: 22 Dec 2023, 5:50 am

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