New figures released by the airline’s majority shareholder show that Macao’s flag carrier racked up cumulative losses of almost 2.9 billion patacas during the three-year pandemic.
Business
Upbeat, new reports are adding to the consensus that the post-pandemic recovery of Macao’s gaming industry is healthily on track.
The territory’s top tourism official says she expects the territory to post healthy visitor totals throughout the holiday period.
However, CEO Lawrence Ho strikes a positive note, stating that “The shadow of COVID-19 is finally receding”.
The city added nearly 700 non-resident workers last month as it seeks to address a labour shortage, especially in the hospitality sector.
Some analysts are predicting that the territory’s casinos will equal or even exceed their pre-pandemic level of earnings as early as next year.
Currently, an average of just 4,750 people a day ride the system, but the opening of new sections this year and next are expected to boost numbers.
However, the territory’s reserves still stand a long way off from the all-time high of almost 679 billion patacas recorded in 2021, figures show.
The company says its performance last year was attributable to the pandemic, but analysts say it will make a strong comeback in 2023.