Air Malta's share of air passenger arrivals has gone down by less than one per cent from five years ago despite the arrival of low-cost airlines.
Statistics unveiled to Malta International Airport shareholders yesterday showed that last year the national airline carried 56 per cent of passengers.
Low-cost carriers have managed to secure almost a quarter of the market, carrying 23 per cent of passengers, a huge increase from a marginal 0.3 per cent in 2005.
Ryanair carried the second highest number of passengers last year, followed by Easyjet.
Charter flights have seen their market share shrink since 2005, going down to six per cent from 18.4 per cent last year.
Although it retained more than half the market, Air Malta saw its passenger numbers go down by 5.8 per cent last year over the year before, while Ryanair and Easyjet saw an increase, of 13 and eight per cent respectively.
The biggest increase was registered by Emirates, which saw passenger numbers go up by 45 per cent, to 110,161 last year from 76,014 in 2008. Thomson Fly also increased its passenger numbers substantially, by 43 per cent.
During yesterday's annual general meeting, MIA CEO Julian Jaeger said passenger numbers went down by more than six per cent, from 3.11 million in 2008 to 2.92 million last year.
There was also a fall of 2.8 per cent in flight movements and a 5.2 per cent drop in seat occupancy. Seat capacity went down from 4.3 million in 2008 to 4.2 million last year. Mr Jaeger said the first quarter of 2009 started with a decline of more than 14 per cent over the same period in 2008 but the gap diminished over the following two quarters until in the final three months MIA saw a 2.3 per cent increase in passenger numbers.
However, a slight decline in income from passengers passing through MIA was made up for by other revenue from retails and properties, which went up by almost 23 per cent, increasing to €11.72 million last year from €9.54 million in 2008.
Last year MIA made a post-tax profit of almost €9 million, a two per cent increase from 2008.
During yesterday's annual general meeting, the airport's CEO, Julian Jaeger, said MIA had a "brilliant" first quarter, carrying 25,660 more passengers in the first four months of the year compared with last year.
Although the airport was affected by last month's disruption caused by the volcanic ash cloud over Europe, it has retained its projected six per cent growth in passenger numbers for this year, although it will be reviewing this in July.
"I am confident we will reach this if the volcano keeps quiet," Mr Jaeger said.
MIA chairman Karin Zipperer said the airport lost some 35,000 passenger movements in just one week. A total of 336 flights were cancelled between April 15 and 22 while airlines operated 72 relief flights, 60 of which by Air Malta.
"The achievement of 2.1 per cent net profit alongside a 6.1 per cent decrease in traffic is no mean feat," she said, adding this fell in line with the registered European average.
Ms Zipperer said Sky Parks Development, a subsidiary company of MIA, had started excavations on the €16 million business centre, a five-storey 30,000 square-metre building to be built next to the terminal in Gudja.
She said the project was expected to be completed within the second half of next year and MIA was in discussions with prospective tenants after striking an agreement with Vodafone last year.
The shareholders yesterday approved the division of each share, currently worth 46c5, into two shares worth 25c each, with the difference coming from the company's finances.
Airport by numbers
• Turnover increased by three per cent, to €46.4 million last year from €45.1 million in 2008.
• Total operating costs went up by 3.8 per cent, to €25.7 million last year from €24.8 million in 2008.
• Air Malta saw a 5.8 per cent decrease in passenger numbers last year but still carried more than 1.6 million people.
• The UK remained the top destination but the number of passengers flying there dropped by more than 71,000 (6.7 per cent). Cyprus's popularity more than doubled, with passengers going up to 59,311 last year from 26,695 in 2008.
• Last year the airport saw its revenue from airport charges go down by 4.23 per cent to under €30 million and ground handling fees go down by almost three per cent to €2.8 million.
• MIA made a €5.2 million investment in the refurbishment of the airport.
• Last year car park ticket sales went up by 40 per cent, reaching almost €1 million.