Air Macau posts loss of UD$32 million in 2009

31 March 2010

Macau, China, 31 March – In 2009 Air Macau posted a loss of 257 million patacas (US$32.1 million) due to the international crisis and establishing direct flights between Taiwan and China, the airline’s chief executive said Tuesday in Macau.

Zhao Xiaohang, who is also the company’s chairman, said that despite this the company had improved on its results for 2008, a year in which losses totalled 400 million patacas (US$50 million).

“We had a great improvement in the second half (of 2009)… much better than the first half of the year and we hope to return to profit this year,” said Zhao, cited by the Macau press.

In December 2009, Air China injected 158.7 million patacas (US$19.8 million) in the capital of Air Macau following an operation to absorb losses, raising its stake in the Macau airline from 51 percent to 80.86 percent.

Along with Air China, Air Macau’s remaining shareholders are Sociedade de Turismo e Diversões de Macau (14 percent), the Macau Special Administrative Region (5 percent) and Evergreen Airways (0.25 percent).

The company, which was founded in November 1995, currently flies to various destinations in China, Tokyo and Osaka in Japan and Thailand, South Korea and the Philippines. (macauhub)