MALAYSIA AIRPORTS RECORDS RM395.8 MILLION NET PROFIT IN 1H2024

 SEPANG- The Malaysia Airports Holdings Berhad Group (Malaysia Airports or the Group) today reported its financial results for the quarter ended 30 June 2024 (2Q2024) and the first half of the year (1H2024), reporting 1H2024 revenue of RM2.73 bi lion, 20.5% higher compared to the same period last year (1H2023). The Group’s Earnings Before Interest Taxes, Depreciation and Amortisation (EBITDA) rose to RM1,321.4 million from RM1,025.3 mi lion a year ago. Its 2Q2024 group revenue stood at RM1,378.9 million, an increase of 11.9% from the corresponding period last year (2Q2023), while its 2Q2024 EBITDA rose to RM649.5 million from RM583.4 million in 2Q2023.

The improved financial performance was underpinned by the sustained recovery in passenger traffic, with 15.8% more passenger traffic, or 65.0 million passengers, carried in 1H2024, compared to a year ago. International passenger movements continued to increase, improving by 28.9% to 34.1 million passengers in 1H2024 compared to 26.5 million passengers in 1H2023. As of the end of 1H2024, group passenger traffic recovered by 95.4% against pre-pandemic levels. Its Malaysian operations saw 45.0 mi lion passengers carried in 1H2024 compared to 38.9 million passengers in the preceding year.

This robust growth in 1H2024 traffic was bolstered by the operationalisation of six new airlines to Malaysia, namely Cambodia Airways, Flydubai, Iraqi Airways, Juneyao Airlines, Thai Lion Air, and Turkmenistan Airlines. Average load factor for 1H2024 stood at 78.8%, surpassing the 1H2019 level by 3.4 percentage points. Meanwhile, its Türkiye operations saw an increase of 16.4% in passenger movements from 1H2023 to 20.0 million in 1H2024, mainly driven by the continued growth in its international passenger movements. In 1H2024, the Group’s Istanbul Sabiha Gokcen International Airport (SAW) welcomed AJet’s introduction of new services to various international destinations including Ercan, Basel, Tbilisi, Belgrade, Baghdad, Budapest, Hannover, Hamburg, Pristina, London Stansted, and Stuttgart. Additionally, the airport also welcomed the commencement of Air Arabia and Air Cairo operations to SAW.

For 1H2024, the Group recorded an almost 146.3% increase in its net profit position, recording a net profit of RM395.8 million compared to RM160.7 million in 1H2023. For 2Q2024, its net profit stood at RM205.8 million, up 100.7% from RM102.5 million a year ago.

The Group’s Managing Director, Dato’ Mohd Izani Ghani, said that Malaysia Airports is optimistic about maintaining the positive momentum in its operational and financial performance, “International passenger movements are expected to remain strong in both its Malaysian and Turkish operations, driven by the summer season demand. We will continue pressing for enhanced connectivity and increasing the number of airlines operating in both Malaysia and Türkiye while continuing to focus on improving passenger experience at the airports. With the new Operating Agreements and gazettement of new Aviation Service Charges up to December 2026 in place, we are able to better invest in the airport infrastructure and operations, ensuring that we meet and exceed the expectations of our passengers and stakeholders, and support the Group's long-term vision of growth and excelence.”