MIA posts €39.5 million net profit in nine-month review

Malta International Airport generated €107.8 million in revenue for the first nine months of 2024, posting a net profit of €39.5 million.

The results were bolstered by a strong traffic performance, which saw the airport welcome 6,896,928 passengers during the same period. 

Capital expenditure for the first nine months of 2024 totalled €39.7 million, as works on major infrastructural projects, including the construction of Apron 8 South, the first phase of the Terminal Expansion Project, and the development of an upgraded VIP Terminal, continue apace.

MIA also announced that passenger traffic grew by 8.7 per cent in October, compared with the same month last year, as passenger volumes exceeded the 800,000 milestone for the first time to total 838,393 movements.

While seat capacity increased by 6.5 per cent year on year, Seat Load Factor (SLF) also registered an uptick of 1.8 percentage points to stand at 86.5 per cent.

With a combined market share of just over 50%, Italy, the United Kingdom and Germany continued to dominate MIA’s market leaderboard in October. While the French and Polish markets secured the fourth and fifth positions respectively, the latter registered the most substantial year-on-year improvement, with a growth rate of 49.8 per cent.

A strong nine-month performance has given Malta International Airport a confident outlook for full-year 2024, with traffic expected to reach 8.96 million, and total revenues of €141 million, for a net profit of €46 million and total capital spending of €64 million.