Malta International Airport plc reported a net profit of €20.98 million for 2016, an increase of 8.9% over the previous year. 

The results were presented at Malta International Airport’s 25th annual general meeting today. The company’s financial growth was achieved on the back of a 10% increase in passenger traffic and an improvement of 5.1% in its non-aviation segment.

This positive performance drove MIA’s contribution in annual taxes on income, coupled with dividends from its 20 per cent shareholding in the company, up to €14.1 million.

In his address, MIA CEO Alan Borg spoke on planned investments for 2017, adding up to €16 million.

He also shared an in-depth look at the first phase of Malta International Airport’s reconfiguration project. Upon completion of this €12 million investment, the terminal will be furnished with additional check-in desks and a security screening area occupying double its current footprint with family and fast-track lanes.

He noted that, as part of the project, a new La Valette Lounge had opened its doors to guests in mid-March, offering them an improved, luxury experience.

During the meeting, shareholders approved a total net dividend of 10c per share for 2016.

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