Asia Pacific airlines carried just 1.1 million international passengers in April as international passenger demand continues to linger at the significantly depr
(MAHB) recorded a net loss of RM685.02mil in the fourth quarter ended Dec 31,2020, versus a net profit of RM29.51mil a year ago.
The airports operator said revenue in the quarter dove 80.4% to RM263.64mil from RM1.34bil in the fourth quarter of 2019, as the Covid-19 lockdowns continued to disrupt air travel operations.
In the same quarter, the group was also hit by a RM500.4mil impairment in Istanbul Sabiha Gökçen International Airport’s (ISG) concession rights.
However, core operational expenses decreased 38% compared to the previous corresponding quarter due to cost containment initiatives during the period.
MAHB said Malaysia and Qatar operations recorded pre-tax losses of RM448.1mil and RM200,000 respectively as compared to pre-tax profits in the year-ago quarter.
But the new immunisation plan that will be rolled out at the end of the month is lending hope that passenger volumes will return.
PETALING JAYA: Even before the national Covid-19 immunisation plan can take off, analysts are already upgrading stocks that they feel will benefit from this exercise. (MAHB).
MAHB’s share price has suffered since the onslaught of the pandemic last year, as passenger volumes dried up at the 39 airports it manages in the country and also in Turkey.
But the new immunisation plan that will be rolled out at the end of the month is lending hope that passenger volumes will return.