Malta International Airport (MIA) has reported a net profit of €39.5 million for the first nine months of 2024, with total revenue of €107.8 million.
The airport’s board of directors approved the group’s financial statements, highlighting the impact of a substantial rise in passenger traffic, which brought nearly 6.9 million passengers through MIA between January and September.
This marked increase in activity was supported by several infrastructure projects aimed at enhancing airport capacity and services.
Major works currently underway include the construction of Apron 8 South, the first phase of the Terminal Expansion Project, and the development of a new VIP Terminal.
Capital expenditure on these initiatives reached €39.7 million within the first three quarters of the year.
Record passenger growth in October
October saw further growth in passenger numbers, which rose by 8.7% compared to October last year, with MIA handling 838,393 passenger movements.
This marked the first time the airport exceeded 800,000 passengers in October.
Capacity also increased, with seat availability up by 6.5% year-on-year, while the seat load factor (SLF) rose to 86.5%, an increase of 1.8 percentage points.
Italy, the United Kingdom, and Germany continued to lead as Malta’s top markets in October, collectively making up over half of MIA’s passenger traffic. France and Poland followed, with the latter market posting the most significant growth, with a notable 49.8% year-on-year increase.
Revised annual projections reflect strong outlook
Given the positive trajectory, Malta International Airport has revised its forecast for the full year of 2024.
The company now expects to reach 8.96 million passenger movements by the end of the year, generating an estimated €141 million in revenue.
The company projects earnings before interest, taxes, depreciation, and amortisation (EBITDA) to total €85 million, with net profit expected to reach €46 million. Capital expenditure for the year is anticipated to be €64 million.
The group's financial statements may be seen in full here.
Correction November 22, 2024: A previous version stated that it was the first time the airport exceeded over 800,000 passengers in a month.