MALAYSIA Airports Holdings Bhd (MAHB) returned to the black after posting a RM187.2 million net profit in the financial year ended December 31, 2022 (FY2022), versus a net loss of RM766.44 million in the previous financial year.

Revenue for the year jumped 86.9% to RM3.13 billion from RM1.67 billion previously.

“The higher revenue was due to the two-fold increase in movements of 83.9 million passengers and a 60% recovery of pre-Covid-19 volume.

“The recovery is driven by the further easing of travel protocols and resumption of airline services,” it said in a filing with Bursa Malaysia today.

MAHB said revenue from airport operations increased significantly by 95.3% to RM2.86 billion from RM1.47 billion, while aeronautical segment revenue increased to RM1.66 billion from RM798.1 million driven by the recovery of passenger traffic from 36.1 million to 83.9 million.

“Malaysia operations passenger traffic improved significantly to 52.7 million as compared to 10.7 million passengers in the prior year.

“Operations in Turkey continued to show passenger traffic recovery from 25.4 million to 31.2 million passengers during the same period. International passengers in Turkey for the current period exceeded the pre-Covid level by 1.7 million passengers,” it said.

Overall, MAHB said Malaysia and Turkey operations recorded a significant increase in revenue by 152.7% to RM1.7 billion from RM673.8 million and 45.7% to RM1.33 billion from RM910.1 million, respectively.

“Whereas, Qatar operations recorded an increase in revenue by 10.3% RM98.3 million from RM89.1 million,” it added. – Bernama, February 28, 2023.