KUALA LUMPUR: Malaysia Airports Holdings Bhd's net profit doubled to RM190 million in the first quarter ended Mar 31, 2024 (Q1 2024) ftom RM58.19 million a year ago, driven by international passenger traffic.
The company saw international passenger rose 33.9 per cent compared to Q1 2023.
Group passenger traffic in the quarter under review recovered by 93.5 per cent against pre-pandemic levels.
MAHB clocked in a revenue of RM1.35 billion, 30.6 per cent higher than the same period last year.
Its Malaysia operations saw 21.8 million passenger movements in Q1 2024, a 16.5 per cent increase from Q1 2023, with an 85.9 per cent overall recovery against pre-pandemic levels.
Meanwhile, its Türkiye operations saw an increase of 18.2 per cent in passenger movements from the corresponding period last year to 9.5 million, mainly driven by a 22.1 per cent growth in its international passenger movements.
The group's cost moderately increased in tandem with the increase in passenger traffic and corresponding operational requirements.
Nevertheless, its core cost per passenger improved to RM15.59 per passenger compared to RM16.48 per passenger in Q1 2023.
Acting group chief executive officer Mohamed Rastam Shahrom said in tandem with the sound financial performance, the airport operator is intensifying its focus on the core of its business.
"The majority of our initiatives are centred on enhancing airport experience for all users. The Aerotrain and baggage handling system replacements are underway, and the interim facilities have been upgraded.
"We are prioritising the digitalisation of our airports, with more biometric self check-in and self bag-drop facilities to be installed at Kuala Lumpur International Airport this year and other major airports thereafter.
"To ease the congestion at KLIA, 14 additional immigration counters were added last year, improving the passenger experience. We have also refurbished 25 suraus in Terminal 1, with Terminal 2 next in line," he said.
He added that the continued recovery in traffic, along with the reimagining of airport retail experience and various other non-aeronautical business strategies, has sustained the companyms profitability and positive cashflows for five consecutive quarters.
"Our meticulous and proactive efforts to maintain cost efficiencies have positioned us well to undertake strategic developments that will modernise and expand our airports, fuelling further growth and capitalising on the positive traffic trajectory and growing demands for air travel," he added.