youtobe twitter facebook

CAM Holds Annual General Assembly Ordinary Meeting and Board Meeting (2018), Grasps Opportunity for Stable Development29 Mar 2018

Macau International Airport Company Limited (CAM) held the Annual General Assembly Ordinary Meeting on 29th March 2018, approval was gained for the resolution of the 2017 Annual Report, Accounts and Audited Financial Statement, Balance Sheet and Supervisory Committee Report, proposal of 2017 Profit Appropriation as well as appointment of the members for the Supervisory Committee of 2018 and other issues related to the business of CAM.

Mr. Charles Lo Keng Chio - Chairman of the General Assembly of CAM expressed in the press conference after the General Assembly, Macau International Airport (MIA) has achieved a total income of 4.95 billion (patacas, same below), increased of 9.6%, in which, the total income of CAM has reached 1.4 billion, increased of 5.5% compared to 2016. Aeronautical revenue reached 602 million, while non-aeronautical revenue reached 804 million, accounted for 42.8% and 57.2% of total revenue respectively. CAM has earned a profit of 451 million before the distribution of preference share dividends in 2017, the final net profit of CAM will be 354 million after tax and preferred dividends. CAM’s shareholders had always been supportive to the development of MIA. Since the company turned to earn a profit in 2012, the loan to airport at its commencement was scheduled to have repayment plan to shareholders, after the needs for airport operations and development. CAM will proceed with the loan repayment plan to shareholders, and move into the fourth phase of installment repayment and pay dividends to the redeemable preferred stock shareholders (including the government) in 2018. After the fourth installment of 2018, the loan will have been repaid by 344 million in total.

CAM will carry out the strategic target of 2018 “You will get the respect from others only if you respect yourself”, to improve the service quality while moving forward. CAM proposed new targets of 7.38 million passenger traffic, 60,000 flight movements, 39,000 tonnes of cargo and 3,170 business jet movements in 2018.

The airlines operating at MIA connects Macau to 47 destinations covering area in mainland China, China Taiwan, Southeast Asia and other areas, which account for 36%, 22% and 42% of the total passenger volume of the airport respectively. The opening of the Hong Kong-Zhuhai-Macao Bridge will make it easier for people to travel, provide more travel mode choices for passengers, and bring greater market to the civil aviation industry in the bay area. Therefore, MIA has introduced many international airlines, encourages airlines to increase frequencies in the potential market and expand routes. The airlines also begin to launch cyclical charter services in order to develop mid to long haul destinations. Scheduled flights of Macau-Sabah and Macau-Moscow will be launched in the coming April and May. CAM will work to have more mid-long haul charter flights, promote routes with airlines and enhance regional cooperation attract overseas visitors.

In view of the rapid development of Macau’s tourism industry, MIA has actively worked on the infrastructure development to enhance reception capacity on limited land resources, and further research on the expansion projects are on-going, as to increase the capacity of the airport. CAM had yearly investment of 2-3 billion on infrastructure development in the past five years. The south extension of the passenger terminal building will be ready for public bidding in the first half year of 2018. The east apron optimization project is expected to be completed and put into operation within this year. Security facilities will be upgraded this year in order to make sure safe operation of airport. The process of city check-in service will be further speeded up to provide more convenient and diversified services.

Regular air freighter flights of Macau-Kuala Lumpur and Macau-Sydney have launched in the first quarter of 2018, which is a new breakthrough in MIA cargo business, and marks that belly cargo is not the only way for freight transport from MIA. It is expected to have more development opportunity for air freighter in the future, and regular air freighter will be launched between Macau and Europe. All of these are good foundation for the opening of Hong Kong-Zhuhai-Macao Bridge.

CAM will set up “Airport Operations Department” from 1st April 2018. As the holding company of MIA, CAM was originally responsible for MIA’s development, financial arrangement and market expansion and promotion and entrusts its wholly-owned subsidiary company ADA - Administration of Airports Ltd. to be in charge of airport daily operation. After the reorganization, all subordinate units, departments and staff of ADA will transfer to Airport Operations Department of CAM, continue to optimize airport management services and maintain good collaboration with other operating partners. For having a smooth transition without affecting passengers' use of the airport, CAM and ADA have made a series of preparations, under the guidance and support of the MSAR Government, Macau Civil Aviation Authority and other relevant departments, after many careful deliberation. It is believed that seamless connection will take place in operation, with no effect to the upcoming Easter holidays travel arrangements.

CAM will continue to coordinate with the MSAR Government to build Macau into a “World Center of Tourism and Leisure”, explore regional cooperation, strives to cooperate with the development opportunities in “One Belt One Road”, as well as insists on maintaining Sino-Portuguese cooperation platform. As the member of Airport Council International (ACI), East Asia Airports Alliance (EAAA) and Five Airports of the Greater Pearl River Delta (A5), CAM will make full use of the external communication platform, expand the impact and role of the international community, and strengthen exchanges and cooperation with excellent civil aviation organizations around the world. CAM will uphold its corporate responsibility, to nurture civil aviation professionals and actively develop the industry.