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MAHB sees higher revenue from non-aeronautical division

Thursday April 1, 2010

Malaysia Airports Holdings Bhd (MAHB) expects revenue from its non-aeronautical business to increase by about 20% to RM430mil in the financial year ending Dec 2010 (FY10) from RM350mil in FY09.

Managing director Tan Sri Bashir Ahmad said its non-aeronautical revenue grew 15% from RM300mil in 2008 to about RM350mil last year.

MAHB would increase the retail space and product mix at its airports, he said on the sidelines of Invest Malaysia 2010.

Bashir said passenger tariff was expected to grow more than the earlier projection of 4%-5% this year.

“There was a 30% increase in January to February this year compared with the first two months of last year and hopefully the momentum stays,” he added.

Total passenger movements at the airports operated by MAHB increased by 15% to 4.36 million in January compared with 3.79 million in the same month last year.

Oman Air and Royal Jordanian – are expected to commence operations at KL International Airport sometime between May and June.

On its overseas operations, Bashir said there had been requests for MAHB to manage two airports in Asia.

Meanwhile, the country’s new low-cost carrier terminal (LCCT) is expected to be ready by end-2011 or early 2012. According to earlier reports, the LCCT was expected to be completed by September 2011.

“So far, MAHB has given out two contracts for earth works to WCT Bhd and Gadang Holdings Bhd,” Bashir said, adding that the major contracts had yet to be given out.

Bashir said MAHB was also in discussions with the Government to acquire more land at the Subang Skypark due to demand from aerospace and other-related companies.

The company will unveil its five-year business direction, Runway To Success – Building A World-Class Airport Business 2010-2014, today.

This article is a verbatim copy of the original article from The Star.

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