Air Macau to post losses for 2005 due to fuel price hikes – report

6 January 2006

Macau, China, 6 Jan – Air Macau is expected to report losses of between 20 and 25 million patacas for 2005 owing to increases in fuel costs, according to a newswire report.

Portuguese news agency Lusa said that Macau’s national carrier posted profits of 71 million patacas in 2004 after recording losses of 150 million patacas a year earlier due to the SARS epidemic in Asia.

Air Macau recently announced record operational revenues of 240 million euros for 2005 and said it carried 2.1 million passengers and 150,000 metric tons of freight during last year.

The airline flies to 18 destinations in China, Taipei (Taiwan), the Philippines and South Korea. Half of its 442 weekly flights are to Taipei, where direct flights to China are not allowed and travelers use Macau for semi-direct flights to the mainland.

Air Macau’s main shareholders are the China National Aviation Corporation (Macau) (51 percent) and SEAP, partially owned by TAP Air Portugal, with a 20 percent stake. (macauhub)