In a year that witnessed immense changes across various sectors, Malaysia Airports Holdings Berhad Group (Malaysia Airports or the Group) brought some reassuring news.
Today, the Group announced its impressive financial outcomes for the first half of 2023. The 1H23 figures indicate a revenue of RM2.3 billion, an increase by a substantial 79.8% compared to the first half of 2022. This remarkable surge can be attributed to the strong traffic recovery, underscored by resumed airline services and other significant factors.
During the first half of 2023, Malaysia operations of the Group experienced a passenger movement of 38.9 million, marking an increase of 91.9% from 1H22. In contrast, the Türkiye operations recorded a 24.4% rise in passenger movements, surpassing the numbers achieved in the same duration of 2019.
A note-worthy observation is the Group’s significant improvement in managing its costs and enhancing efficiency and productivity. Their core cost per passenger has improved, further resulting in a notable Profit Before Tax of RM197.2 million as opposed to a loss in the previous year.
The resurgence in air travel demand and a continuous uptick in passenger traffic fuels the Group’s optimism.
Malaysia Airports’ Managing Director, Dato’ Sri Iskandar Mizal Mahmood, expressed confidence in Malaysia Airports returning to a stable value position soon. He emphasized their ongoing transformation, initiatives yielding results, and several operational enhancements introduced, aiming to place their airports among the top global ranks.