Wednesday, July 8

MAHB Q1 earnings dip by RM20.37 mln as Covid-19 keeps travellers away

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MAHB said airports in Malaysia registered decreasing passenger movements from the end of January 2020 and the rate of decline significantly increased from March 18, 2020 corresponding to the Movement Control Order imposed by the government that restricted both Malaysians and foreigners from travelling to and from Malaysia. — Bernama photo

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) incurred a net loss of RM20.37 million in the first quarter (1Q) ended March 31, 2020 against a net profit of RM149.58 million in the corresponding quarter a year ago.

Revenue eased to RM933.83 million from RM1.25 billion previously, in tandem with the contraction in passenger movements of 23.9 per cent due to the impact of Covid-19 and travel restriction imposed by the Malaysian government and other countries to contain the pandemic.

In a filing with Bursa Malaysia yesterday, MAHB said passenger traffic for Malaysia operations contracted by 27.6 per cent (international: -32.8 per cent, domestic: -22.0 per cent) to 18.4 million passengers compared to 25.4 million passengers in the corresponding quarter in the prior year.

In the same period, the passenger traffic for Turkey operations contracted by 12.3 per cent (international: -6.7 per cent, domestic: -15.7 per cent) to 7.1 million passengers compared to 8.1 million passengers last year.

“Overall, Malaysia and Turkey operations recorded a decrease in revenue by 29.1 per cent to RM660.2 million and 10.0 per cent to RM251.6 million, respectively,” said MAHB.

Meanwhile, Qatar operations recorded a decrease in revenue from RM40.9 million to RM22.0 million.

MAHB said airports in Malaysia registered decreasing passenger movements from the end of January 2020 and the rate of decline significantly increased from March 18, 2020 corresponding to the Movement Control Order imposed by the government that restricted both Malaysians and foreigners from travelling to and from Malaysia.

“However, there were a small number of arriving Malaysian passengers, from repatriation flights at KLIA, who further continued to travel domestically via KLIA.

“Moving forward, air travel demand may resume if the risks associated with Covid-19 have been mitigated both in Malaysia, as well as in countries which our airports have flight connections to,” said MAHB.

Meanwhile, Sabiha Gokcen International Airport (SGIA) passenger movements experienced a decline in passengers following the suspension of flights imposed to certain countries in stages and later to all international destinations announced by the Turkey government from March 28, 2020 onwards.

“However, few cargo and charter flights are expected to take place in May with Pegasus and Turkish Airlines, planning to resume operations from 28 May 2020,” it said. — Bernama