Malta International Airport has reported a pre-tax profit of €13,687,086 in 2008, a decrease of 3% from its performance in 2007 despite an increase of 4.7% in passengers.

Revenue increased by €749,493 to €45,106,348 as a result of an increase in regulated fees because of the increase in passenger traffic but that was dampened by rebates on the tariffs given as incentive schemes on new routes, the company said.

There was also an increase in revenue on car park fees, commercial activities and the PRM (Persons with Reduced Mobility) fee.

Operating costs were €24,801,965 (31 Dec 2007 – €24,036,450); an increase of just over €765,000 compared to last year. This, MIA said, was due to a number of factors most notably an increase in staff costs due to the signing of a new collective agreement in 2008 and an increase in maintenance costs. The largest increase in costs, however, was due to the introduction of the PRM. The Group paid over €777,000 in PRM charges to ground-handlers for the second six-month period of the year and only managed to recuperate some of this additional expense during the same period.

"It is the intention of the Group to increase the PRM charges in 2009 to make good for the losses incurred in the coming years," the company said.

It said there were significant cost savings in the use of utilities and in administration costs.