These drops mainly resulted from eco-friendly measures the operator of the airport has recently taken, such as the installation of more efficient sanitation systems and the introduction of energy-saving lighting and air conditioning units, according to the press statement.

The company has also invested more than €1m in photovoltaic panels and is proceeding the process of installation of a new photovoltaic system (PV) on the airport campus, in the past three years. Through the photovoltaic process, light is converted into electricity by using semiconducting materials that exhibit the so-called photovoltaic effect. A PV system utilises solar modules that comprise several solar cells generating electrical power.

“The writing of our sustainability report has become an important annual exercise through which we are better aligning our priorities to our core value of sustainability and the achievement of a healthy triple bottom line,” said Alan Borg, CEO of Malta International Airport. “We believe that we can only consider ourselves to be a responsible organisation if we strive to manage our environmental, social and economic impacts in a way which benefits the community within which we operate.”

At the same time, the company says it prioritised the development and the wellbeing of its employees last year through the provision of over 8,800 hours of mental health training. In addition, MIA invested more than €300,000 in 2018, supporting several projects and initiatives undertaken within the local community.

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MIA’s aviation (+11.1%) and non-aviation (+14.1%) segments both registered growth, with the improvement of the former being largely driven by a 13.2% increase in passenger traffic. In line with the hub’s diversification strategy, the company’s non-aviation activities also delivered positive results, contributing 28.9% to total revenues for the year, said the press statement sent to BM.

“Malta International Airport’s double-digit traffic increase for 2018 outpaced the average growth of its European peer group. However, this result did not come at the expense of service quality. In fact, in 2018 we were awarded the Best Airport in Europe title, in recognition of the great airport experience we provided our guests with,” Nikolaus Gretzmacher, Chairman of Malta International Airport, said in his opening address.

Mr Gretzmacher said that while figures speak for themselves, it must be acknowledged that they are the “result of ongoing work and tireless commitment, as well as close collaborations with key stakeholders, especially government when it comes to traffic development”.

Alan Borg, Chief Executive Officer of Malta International Airport, further elaborated on the companies performance, taking the floor after the chairman. Mr Borg highlighted that Malta International Airport is set to close off 2019 with another traffic milestone of 7.2 million passenger movements and with plans in hand for a number of infrastructural projects.

“The approval of our master plan was a very important development in 2018 and, together with our solid financial position, it will enable us to continue investing in the airport campus in its entirety over the long term, helping us honour our commitment of keeping the momentum of improvement going,” said Mr Borg, while noting that in 2019 alone the company’s investments will total over €20m.

The post Malta airport’s profits rise 25.6% to €30.3m in 2018 first appeared on The Malta Business Weekly.