MIA activity pulls out of two-year slump

Following a two year slump in passenger and aircraft movements at the Malta International Airport, the MIA has registered an eight per cent increase in passenger movements and a five per cent growth in aircraft movements over the last three months of 2002.

The news is undoubtedly good for the airport’s new management and indeed for its shareholders. MIA shares hit the Malta Stock Exchange just last month and after a brief jump to 98c5, they stand once again at 73c.

Figures supplied by the airport indicate an increase in international passenger movements of 9.4 per cent in October, 5.5 per cent in November and 9.6 per cent in December over the corresponding months of 2001.

The largest increases over last year’s fourth quarter were registered from the United Arab Emirates, with a 41 per cent leap in activity. UAE’s soar was followed by an increase from mainland Italy of 16.8 per cent, the UK with 13.5 per cent, Russia with 9.3 per cent and Germany with six per cent.

A company spokesman said that MIA is understandably satisfied with the performance levels and expressed the management’s confidence that the positive trend would continue, explaining, "We are quite optimistic that 2003 will be a positive year for MIA. This increase in passenger movements, the increase in flight frequencies operated by reputable airlines and that new airlines such as Lauda Air will soon commence operations to Malta are a clear indication that MIA is moving in the right direction and will attain its main objectives for 2003" the spokesman said.