KUALA LUMPUR: Malaysia Airports Holdings Bhd's net profit doubled to RM205.8 million in the second quarter ended June 30, 2024 (Q2 2024) versus RM102.53 million in Q2 2023, underpinned by the sustained recovery in passenger traffic.
MAHB logged a higher revenue of RM1.38 billion in the quarter under review compared to RM1.23 billion a year ago.
For the first half of 2024 (1H24), its net profit rose to RM395.79 million, up 146.3 per cent year-on-year from RM160.72 million in the same period last year.
Its revenue rose to RM2.73 billion compared to RM2.27 billion in 1H23.
The period saw 15.8 per cent more passenger traffic, or 65.0 million passengers, carried in 1H24, than a year ago.
International passenger movements continued to increase, improving by 28.9 per cent to 34.1 million passengers in 1H24 compared to 26.5 million passengers in 1H23.
As of the end of 1H2024, group passenger traffic recovered by 95.4 per cent against pre-pandemic levels.
Its Malaysian operations saw 45.0 million passengers carried in 1H24 compared to 38.9 million passengers in the preceding year.
The airport operator said the robust growth in 1H24 traffic was bolstered by the operationalisation of six new airlines to Malaysia, namely Cambodia Airways, Flydubai, Iraqi Airways, Juneyao Airlines, Thai Lion Air and Turkmenistan Airlines.
Group managing director Datuk Mohd Izani Ghani said MAHB is optimistic about maintaining the positive momentum in its operational and financial performance.
"International passenger movements are expected to remain strong in both its Malaysian and Turkish operations, driven by the summer season demand.
"We will continue pressing for enhanced connectivity and increasing the number of airlines operating in both Malaysia and Türkiye while continuing to focus on improving passenger experience at the airports.
"With the new Operating Agreements and gazettement of new Aviation Service Charges up to December 2026 in place, we are able to better invest in the airport infrastructure and operations, ensuring that we meet and exceed the expectations of our passengers and stakeholders, and support the group's long-term vision of growth and excellence."