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CAM Holds Annual General Assembly Ordinary Meeting (2021)30 Mar 2021

Macau International Airport Company Limited (CAM) held the Annual General Assembly Ordinary Meeting on 30th March 2021, approval was obtained for the resolution of the 2020 Annual Report, Financial Accounts and Supervisory Committee Report, proposal of Profit Appropriation, and other issues related to the business of CAM.

Since the outbreak of COVID-19, the global civil aviation industry has been hit hard. The air passenger market shrank sharply due to the devastating impact of the pandemic. MIA handled 16,962 aircraft movements with a year-on-year decrease of 78% while 1.17 million passengers were received in 2020, representing a yearly decline of 88%. The cargo volume reached over 33 thousand tonnes with a year-on-year decrease of 21% while the operation of business jets dropped 78% with 606 movements recorded. The total income of the major operators in the airport (included CAM) is estimated to reach 1.46 billion (Patacas, same below) with a yearly decline of 77%.

Despite the sharp decline in demand of air transportation market, CAM has launched two rounds of relief measures to relevant aviation entities during the epidemic. Under the interactive influence of timely adoption of a series of epidemic preventions and response measures, CAM has suffered losses in 2020, while depreciation expense, which is of non-cash nature, contributed about half of the loss. Nevertheless, CAM always adheres to prudent cash flow management principles and is able to maintain its cash level to meet current business requirement. The total income of CAM has reached 462 million, with a yearly decrease of 75% while a net loss of 652 million is registered. During 2020, CAM continued with the sixth repayment of shareholders’ loan with the amount of 162 million as committed to the shareholders. Meanwhile, the sixth payment of preference shares dividend in the amount of 97.35 million Patacas was also made in 2020. With the internal resources accumulated from past years, CAM has paid a total of MOP1.292 billion to shareholders for loan repayments and preference shares dividend from 2015 to 2020.

Ever since the beginning of COVID-19, CAM has been staying side by side with all staffs by providing all necessary measures of protection to maintain the airport normal operation. CAM has also been active in responding to the SAR Government's promotion in “Guaranteeing Employment and Stabilizing the Economy” to conserve manpower with great effort for the future. Besides, Macau International Airport always stands fast to remain at air portal of Macau and has never slackened the prevention measures of the pandemic while constantly enhance the management and control over the environment to safeguard the public health and safety. As the epidemic prevention and control work enters the normalization stage and vaccine has been developed and launched on the market, the global aviation and tourism industry are gradually recovering. In which, the passenger volume of MIA in March doubles as compared to that of February this year and 3 times increase over the same period in 2020, reflecting the market demand is resuming. According to the forecast of Airport Council International (ACI) early this year, the global aviation passenger traffic is estimated to grow with a 2.4% annual rate over the next five years, even though the recovery may not be balanced globally. CAM has been engaging itself actively in preparation for the business recovery and adjusted for improvement dynamically, in order to pull back the development to its orbit as soon as possible.

During the General Assembly Meeting, new members of Supervisory Committee have been nominated. With the change, CAM will continue to pursue the strategic goal of “Seize the Opportunity and Grasp the Future” proactively to forge ahead with determination even with the arising uncertainties. Respective duties are to be fulfilled within their professional scopes, solidarity and collaboration will be promoted. Aiming to fully engage MIA in the favorable environment of the Greater Bay Area to capitalize our advantages, while and continue striving to provide passengers with safe and comfortable surroundings as well as services with the People and Honesty oriented principle. CAM will remain steadfastly to uphold the core value of “Safety, Efficiency and Effectiveness” and constantly adjust itself to cope with the national economic development strategy and Master Plan of Macau Special Administrative Region. Bearing the mindset of “Base in Macau, Leverage on motherland and Face to world” to facilitate MIA as the proud international gateway and continue to serve as the bridge connecting Macau to the world.