MIA’s 33rd AGM highlights landmark year for the company

• 8.96 million passengers welcomed; +15% growth over 2023
• Net profit of €46.3 million – most profitable year to date
• Over €24 million paid in shareholder dividends
• Commencement date of the East Expansion project to be announced soon

Malta International Airport’s thirty-third Annual General Meeting, held earlier today, highlighted a landmark year for the company, defined by record passenger traffic, all-time high earnings, and the completion of several transformational projects.

The company’s unprecedented traffic results featured prominently in both the welcome address delivered by Chairman Nikolaus Gretzmacher and the in-depth review of 2024 presented by Chief Executive Officer Alan Borg.

Borg explained that the 8.96 million passengers handled by the airport in 2024 were spread more evenly across the year in line with strategic efforts to address seasonality. Emerging as the fastest-growing month of the year, March saw more than 600,000 passengers for the first time – highlighting Malta’s growing appeal in the off-peak months.

The 14.8% growth rate in passenger traffic was mirrored by an increase of 15% in net profit, which reached €46.3 million, making 2024 the company’s most profitable year to date.

Over €24 million were returned to shareholders through the highest dividend pay-out on record. During the Annual General Meeting, shareholders voted in favour of a proposed share buy-back programme, which will come into effect on 1st June 2025, further enhancing shareholder value.

Reinvestment in the airport remained a top priority in 2024. Despite busier operations, the company successfully realised a capital expenditure programme of €68.4 million, which has notably improved several aspects of the airport journey, including the arrival, the Baggage Reclaim Hall, and the security screening process.

Additionally, the first phase of the mammoth Apron 8 project was concluded within the established timeframes, with four aircraft parking stands coming into operation in 2024. With the second set of four parking stands expected to be inaugurated this week, the airport will be better poised to handle mixed-fleet operations during the upcoming peak summer months.

Sustainability-related projects remained high on the agenda alongside operational investments, with the replacement of heating, ventilation and air-conditioning (HVAC) units and works on the company’s fifth photovoltaic farm continuing in earnest during 2024. An environmental milestone the company expects to reach later this year is becoming carbon neutral for emissions under its control.

The completion of several large-scale projects between 2024 and 2025 will allow the focus to shift to the Eastward Expansion, which is at the core of a €345 million investment plan for the next five years. Preparatory works for this ambitious project, which is set to herald a new era for Malta International Airport through increased capacity and a reimagined guest experience, are well underway, with the company expecting to announce the commencement date soon.

A team of almost 500 employees – the largest in the airport’s history – was credited by Mr Borg as the driving force behind the company’s various successes during 2024 as well as future ambitions.

The team’s commitment to providing an exceptional airport experience was crucial in ensuring guest satisfaction levels remained high. These efforts were rewarded when Malta International Airport was named among the best airports in Europe, based on the feedback collected from departing guests throughout 2024.