The Malta International Airport is expected to welcome a record 5.8 million passengers by end of this year. Last year, MIA saw 5.1 million passengers. Predictions show an expected growth of between 14% to 16% in passenger traffic.
The details of the mid-yearly traffic results, together with forecasts for the end of this year and 2018 were given in a detailed presentation by MIA CEO Alan Borg.
He explained that figures are looking good for the Malta International Airport and the gradual growth in passenger numbers in expected to continue. By June this year, the MIA has seen an increase of 20% in passenger movement.
The airport has managed to reach the 500,000 passenger mark in April, whereas normally, this target is reached in July.
United Kingdom, Italy and Germany remain the top markets for MIA. UK, in fact, still holds 26% of the market share in Malta. A third daily flight from Frankfurt helped the progress of passengers from Germany. Spain also registered a staggering increase of 64%.
Gatwick (UK) and Fuimicino (Italy) airports top the list of most frequented airports by MIA passengers. Ryanair is the number one top airline for MIA with an increase of 37%. Air Malta follows with 3% increase.
52% of the planes coming through the airport are low cost carriers. When comparing airports similar to Malta's size, MIA is outpacing its counterparts significantly, Borg explained. In terms of growth rate, MIA is still doing best compared when compared to other small countries.
Airlines expansion and stable jet fuel prices are keeping airport traffic in the EU on the increase. Brexit, however, is still a cause for uncertainty in the industry as a whole.
As from next winter, Air Malta will operate in two new routes and will increase the frequency of flights. Lufthansa is expected to operate four times per week to Munich and Ryan Air is going to add three new routes. EasyJet will start operating a new route to London Southend while Vueling is expected to fly three times a week from Barcelona.
Capital investment in the Malta International Airport will go on in 2018. The MIA management is aiming to set up eight additional check in desks and to relocate the central screening area to its permanent space. By the end of this year, the total investment would have reached €16 million. €3.7 million will be invested in the airfield and some €8.5 million in the terminal reconfiguration project.
Finally, Mr Borg also presented the company’s financial targets for the year. MIA predicts a total revenue of over €79 million with net profit reaching €23 million.