KUALA LUMPUR: Malaysia Airports Holdings Bhd's profit growth will be weighed down by challenges at its subsidiary airport in Istanbul, Turkey, according to Bloomberg Intelligence.
The research house said the Istanbul facility looms over an otherwise upbeat outlook with heavy finance expenses, intensifying competition, and startup costs from new capacity.
“These headwinds are likely to make it a drag on profitability for at least two years.” BI said.
BI said however MAHB’s growth should continue at its base in Malaysia as rising travel demand and favorable regulations promote business opportunities.