China: Macau airport posts loss of US$5.5 million in 2007

27 March 2008

Macau, China, 27 March – Macau’s airport management company, Sociedade do Aeroporto de Macau (CAM) said Wednesday it has posted a loss of 44 million patacas (US$5.5 million) in 2007, or 29.6 percent less than in 2006.

CAM’s operating results in 2007 totaled 618 million patacas, or 8 percent more than in 2006.

A CAM statement said that in 2007 operating revenue totalled 2.6 billion patacas.

In 2007 the airport was used by 5.5 million passengers recorded the movement of 53,386 aeroplanes and dealt with 180,000 tons of cargo.

The airport is used by 16 airlines operating 31 routes, most of which are regional.

In August 2007, the government of Macau said it was analysing the possibility of acquire the entire private capital of CAM and investing 10 billion patacas (US$1.25 billion) in improving its structure and operations.

CAM was set up in 1989 with initial capital of 1.5 billion patacas (around US$200 million), with the Macau government in possession of 55.4 percent and Sociedade de Turismo e Diversões de Macau (STDM), owned by gaming magnate Stanley Ho, owning 33.03 percent.

The remaining capital is divided amongst shareholders from Macau and mainland China.

The announcement was made by the head of the Macau government, Edmund Ho, who said that the current shareholders did not have the capacity to make the big investments needed for the airport to meet the demands of tourism and convention industry growth. (macauhub)