MAHB posts 1Q net loss of RM20.38m, battered by Covid-19, travel curbs


  • Aviation
  • Friday, 22 May 2020

MAHB reported on Friday the net loss was RM20.38mil, a stark contrast from the net profit of RM149.58mil a year ago. Its revenue fell by 25.4% to RM933.83mil from RM1.25bil. Loss per share was 2.09 sen compared with earnings per share of 8.16 sen.

KUALA LUMPUR: MALAYSIA AIRPORTS HOLDINGS BHD (MAHB) sank into the red in the first quarter ended March 31,2020 as its revenue was impacted by the Covid-19 pandemic and travel curbs imposed by Malaysia and other countries.

MAHB reported on Friday the net loss was RM20.38mil, a stark contrast from the net profit of RM149.58mil a year ago. Its revenue fell by 25.4% to RM933.83mil from RM1.25bil. Loss per share was 2.09 sen compared with earnings per share of 8.16 sen.

It said revenue from the aeronautical segment decreased by 22.3% to RM502.3mil from a year ago.

Passenger traffic for the Malaysia operations contracted by 27.6% (international: -32.8%, domestic: -22.0%) to 18.4 million passengers versus 25.4 million passengers a year ago.

Passenger traffic for Turkey operations contracted by 12.3% (international: -6.7%, domestic: -15.7%) to 7.1 million passengers from 8.1 million passengers.

MAHB's non-aeronautical segment decreased by 28.6% to RM375.4mil.

Revenue from the non-airport operations slumped by 30.0% or RM24.10mil due to lower revenue from the project and repair maintenance and hotel businesses.

“Overall, Malaysia and Turkey operations had recorded a decrease in revenue by 29.1% to RM660.2mi and 10.0% to RM251.6mil respectively. Qatar operations recorded a decrease in revenue from RM40.9mil to RM22mil, ” it said.

MAHB’s network of airports recorded 25.5 million passengers in 1Q, down by 23.9% on-year.

The group’s traffic for international and domestic passengers contracted by 28.0% and 20.1% respectively.

This resulted in the group’s aircraft movements decrease by 11.8% with both international and domestic aircraft movements decreasing by 16.1% and 8.9% respectively.

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AHB , Cvid-19 , travel curbs , passenger traffic

   

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