Malta International Airport plc – Interim Directors’ Statement

Malta International Airport plc has publishd its Interim Directors' Statement

Malta International Airport plc hereby announces that following the publication of the unaudited financial statements for the six months ended 30 June 2015, the Company sold its 10% shareholding in Valletta Cruise Port plc (VCP) in November 2015 to existing shareholders of VCP giving rise to a pre-tax gain in the books of Malta International Airport plc of Euro 1.86 million. No other material events and /or transactions have taken place that would have an impact on the financial position of the Company, such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules, and which have not been otherwise announced through a Company Announcement.

During the period under review, the financial position of the Company has remained sound. Passenger Movements at the airport from January to October 2015 are up by 7.4% over last year. Traffic for the remaining months of 2015 is expected to be similar or slightly higher than those of 2014. The forecasted passenger movements for 2015 is therefore expected to reach in excess of 4.5 million movements. The Company also intends to extend the Winter Landing Fees incentive introduced in 2011 for another year which means that the landing fees of all scheduled airlines during the winter months will be refunded in full. The scheme will run for the winter months of November and December 2015 and for January, February and March 2016. We estimate that this initiative will cost the Company around €1.3 million in lost revenue. Subject to any unforeseen circumstances, the Directors expect the Company’s financial results from normal operations for the year will be better than the projections made at the beginning of the year and from those of 2014. 

To view the Official Company Announcement, click here.