FOR the third consecutive month, Malaysia Airports Holdings Bhd (MAHB) airports saw a sharp decline in passenger traffic, with June recording a 92.1% plunge year-on-year, The Edge Markets reported today.

Passenger traffic plummeted by 98% in April and 97.8% in May, MAHB said in a filing to Bursa Malaysia.

The filing said that in June 954,000 passengers passed through MAHB airports in Malaysia and the Istanbul Sabiha Gökçen International Airport in Turkey compared with 12.14 million in the same month last year.

It said 110,000 of them were international passengers and the rest domestic travellers.

The June figure, however, was a 300% improvement over the May figure of 237,000.

MAHB said the improved traffic signalled a revival of air travel in Malaysia and Istanbul following the relaxation of travel restrictions around the world. It said the day-to-day increase in passenger movement was driven by airlines’ resumption of domestic flights in Malaysia following the lifting of the interstate travel ban on June 10.

Meanwhile, AirAsia chief executive Tony Fernandes said he was confident the virus-battered budget airline would be back in the black by next year.

The Edge Markets said Fernandes’ optimism was supported by proactive measures put in place by Asian authorities to address further virus outbreaks.

Last week, AirAsia announced plans to raise RM2.4 billion in order to ease its tight cash flow.

The group’s net cash position as of March 31 was RM1.1 billion, but its cash burn rate is fast as most of its aircraft are grounded due to travelling restrictions.

In the first quarter ending March 31, a net loss of RM803.85 million nudged the group into the red.

In comparison, the group registered a net profit of RM96.09 million during the corresponding period last year. – July 16, 2020.