KUALA LUMPUR – Malaysia Airports Holdings Bhd (MAHB) posted a higher net profit of RM210.37 million in the third quarter ended September 30, 2024 (3Q 2024), compared to RM94.76 million in the same period last year.
In a filing with Bursa Malaysia today, it said revenue improved to RM1.53 billion from RM1.28 billion previously.
“This growth was driven by higher passenger volumes resulting from new airline operations and additional flight frequencies to and from international sectors, further supported by the implementation of a 30-day visa-free policy for travellers from China and India to Malaysia,” it said.
For the first nine months of its financial year ending Dec 31, 2024 (9M 2024), its net profit surged to RM606.16 million, compared to RM255.47 million in 9M 2023, while revenue grew to RM4.26 billion in 9M FY2024 versus RM3.54 billion previously.
MAHB said the revenue growth was in tandem with increased passenger movements by 14% to 101.2 million passengers.
“The resurgence in passenger traffic is attributed to several factors, including new airline operations and additional flight frequencies to and from international sectors, airlines resuming routes and introducing new services and the implementation of the 30-day visa-free policy for travellers from China and India to Malaysia,” it said.
As for its outlook, MAHB said the group anticipates further growth, with passenger traffic expected to approach pre-pandemic levels, particularly from key markets such as China, India, and Southeast Asia, towards the end of the financial year 2024, due to the relaxation of visa requirements.
Additionally, the airport operator would drive passenger growth through ongoing efforts to attract new airlines and routes, as well as the resumption of services by existing carriers.
It noted that the strategic focus on improving infrastructure, enhancing operational efficiencies, and offering elevated passenger services positions MAHB well to capitalise on the anticipated increase in air travel demand.
“Overall, with a robust recovery trajectory, strategic initiatives to boost passenger numbers, and positive industry forecasts, the prospects for MAHB in the coming year appear promising.
“We remain optimistic about the continued growth and success of MAHB, driven by the collective efforts to ensure a seamless and enjoyable travel experience for all passengers,” it added. – November 26, 2024