During a press conference held earlier Wednesday, Malta International Airport (MIA) CEO Alan Borg presented highlights from the company’s five-year capital investment plan.
The next five years are set to be “transformational” for the airport, as the company plans to invest approximately €175 million in the evolution of the airport campus, €39 million of which are planned to be disbursed this year.
Mr Borg described the investment programme as key to the realisation of the company’s vision to take passenger numbers beyond the record levels reached in 2019, whilst maintaining the highest levels of service and delivering on its climate-related pledges.
The transformation of MIA has been given the green light with the approval of the design concept for the first phase of the Terminal Expansion Project, which will see the westward extension of the building. More immediate projects, which are slated for completion in 2023, include doubling the current footprint of the customs area, unveiling a covered walkway linking Park East to the terminal, and freshening up the food and beverage offering with the introduction of two new outlets.
Meanwhile, works on the €40-million Apron X project, which will boost MIA’s aircraft parking capacity and its ability to handle mixed-fleet operations, have picked up the pace, as the company eyes summer 2024 for the completion and utilisation of the first parking stands. Over the next few years, the company will also be investing heavily in the maintenance of its airfield infrastructure, mainly through extensive runway resurfacing works.
“We are excited to be able to share parts of our five-year vision for the airport. The execution of so many ambitious projects as the terminal remains operational will certainly be no easy feat, but we recognise our responsibility to ensure that, as the point of entry for the majority of the tourists visiting the islands, Malta International Airport continues to evolve and rank among Europe’s top-rated airports,” said Mr Borg, going on to thank the team and all stakeholders for supporting the company’s vision.
Destinations that rely heavily on tourism are better poised to continue recovering at a steady pace throughout the coming year, and MIA is committed to continue working with the Malta Tourism Authority to put the Maltese Islands on the map as a destination of choice. Based on the current winter schedule and traffic developments that have been confirmed for the upcoming summer season, the airport expects to host 6.3 million passengers in 2023, recovering 86 per cent of pre-pandemic traffic.
The company also expects to generate revenues to the tune of €97 million, achieve an EBITDA of €59 million, and make a profit of €29 million.
She sheds light on the nuances surrounding the maritime industry in Malta as part of the latest edition of Malta ...
He was speaking as the retail chain marks 15 years since it opened its first outlet in Żebbug, back in ...
An actively managed strategy will focus attention on market behavior for a high yielding investment product.