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Airport reveals hub ambitions.
(From Lloyds List)
WHILE the privatisation saga of state airline Air Malta trundles on, the sale in 2002 of a strategic equity stake in Malta International Airport has shown that the outcome can be positive.
While the airport privatisation came at a time when the airport industry worldwide was still suffering from the blows of the terrorist attacks on the US in 2001, severe acute respiratory syndrome and the Iraq war, the outlook now is altogether more encouraging.
At the company's annual meeting in July management told shareholders that, although the scars still showed, the wounds were starting to heal.
Last year Malta's airport handled 2.67m passengers and 32,179 aircraft movements, underpinned by tourist arrivals.
For the year ending March this year it notched up pre-tax profits of Lira2.65m ($7.5m).
The airport is now 40% owned by the Malta Mediterranean Link Consortium, which groups Vienna Airport in Austria with SNC Lavalin of Canada and some local shareholders.
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