Macau airport operator CAM said in a statement this week that it incurred a net loss of 519 million patacas last year, “representing a loss reduction of 20.4 percent year-on-year”.
Macau International Airport Company Limited (CAM) announced its 2021 results and statistics after its Annual General Assembly Ordinary Meeting on Wednesday.
According to the statement, 80 percent of last year’s net loss was due to “non-cash” depreciation expenses.
“CAM always adheres to prudent cash flow management principles and is able to maintain its cash level to meet current business requirements,” the statement pointed out.
According to the statement, the single-runway airport in Taipa recorded 1.15 million passengers last year, a year-on-year drop of 2.2 percent. The operation of business jets fell 49 percent, with 309 take-offs and touch-downs. Cargo volume rose 45.7 percent year-on-year to 49,000 tonnes, representing a 15 percent increase compared to the pre-pandemic level in 2019.
The statement said that the estimated total revenue of the airport’s “main operators” (including CAM) was estimated to have reached 2.06 billion patacas last year, a year-on-year growth of 42 percent.
Macau has been affected by the COVID-19 epidemic since January 2020.
The airport, which started operating in 1995, welcomed a record 9.6 million passengers.
In 2021, CAM recorded a revenue of 581 million patacas, a year-on-year growth of 25.8 percent. However, last year’s revenue accounted for only 30 percent of the one in 2019, CAM acknowledged.
CAM, the airport’s concessionaire, is owned by the local government (55.24 percent), former gaming monopoly company STDM (34.10 percent), with other local investors as well as those from Hong Kong and the mainland separately holding the remaining shares.
Photo courtesy of Airports Worldwide
