Macau airport reports profits as passenger traffic returns

The city’s airport reported nearly MOP1.19 billion in revenue for the 2023 fiscal year, up 179.8% from the previous year amid the travel and economic rebound.

Data from the Macau International Airport Company Limited (CAM) shows that the group generated an income of MOP220 million, marking the airport’s return to profitability after three years of pandemic losses.

In 2023, Macau International Airport welcomed 5.15 million passengers and handled over 42,500 flights, representing 54% and 55% of pre-pandemic 2019 levels respectively. Cargo volume increased 24% to 63,800 tons. Business aviation flights more than doubled to 923 movements.

CAM said cost controls and prudent cash management helped drive profit recovery. Air traffic has continued rebounding in 2024, with January-March passenger numbers up 75% from the same period in 2019. Cargo and flight movements also outpaced 2019 levels.

To accommodate growth, shareholders approved an MOP850 million capital raise to start the airport’s expansion project in late 2024. Infrastructure and technology upgrades increased efficiency. CAM also pursued new airlines and routes from cities including Beijing, Phnom Penh and Seoul. Staff Reporter

Categories Macau