Debts of Mozambican airport management company rise due to investment plan

31 March 2010

Maputo, Mozambique, 31 March – The debt of Mozambican airport management company, Aeroportos de Moçambique (AdM) is expected to rise from 200 million to 300 million meticals (US$10.7 million) due to investments the company is carrying out, said the chairman of AdM; Manuel Veterano.

Cited by Mozambican newspaper Notícias, Veterano said that servicing the debt consumed around 70 percent of the company’s revenues, which in 2009 totalled US$24 million, which was less than the US$27 million initially forecast.

Veterano said that a large part of the company’s revenues, 48 percent, is from airport management, 44 percent from administration of airspace and the remainder is a result of fees on businesses run at the airports.

Veterano said the company planned to reduce the debt and start posting a profit.

He said he was concerned with the fact that fees on retail business in the airports contributed just 8 percent to the company’s total revenues.

Amongst the projects to modernise the facilities, where one of the big challenges is construction of Pemba International Airport , is also the refurbishment and expansion of Inhambane Aerodrome.

The work, which includes expansion of the aerodrome, creating spaces for customs services, migration, health, veterinary and agriculture, as well as areas for retail, is expected to cost 54 million meticals. (macauhub)