Malta International Airport has disclosed that it made €1.86 million from the sale of its 10% share in Valletta Cruise Port.
The shareholding was sold to existing shareholders giving rise to a pre-tax gain in the books of Malta International Airport of €1.86 million, MIA said in a company announcement.
FSG Co. Ltd (Farsons), Malta International Airport and Bank of Valletta all sold their shareholding.
Turkish company Global Liman Isletmeleri now has a shareholding of 55% and AX Holdings Ltd increased its shareholding to 36.37 per cent. Hong-Kong based businessman and Grand Hotel Excelsior owner Stuart Elliott holds the remaining shares.
In its statement, MIA said projected passenger movements for 2015 are expected to reach in excess of 4.5 million.
The Company also intends to extend the Winter Landing Fees incentive introduced in 2011 for another year which means that the landing fees of all scheduled airlines during the winter months will be refunded in full. The scheme will run for the winter months of November and December 2015 and for January, February and March 2016, costing around €1.3 million in lost revenue.