MoBay airport helps bump Abertis profit
Increased activity at the MBJ Airports in Montego Bay contributed to its Spanish parent Abertis Airports increasing first-quarter operating profit to ¤15 million ($910 million) up 22 per cent from year-earlier levels, according to financials released this month.
The group specifically credited the local operations which manages Sangster International Airport for growing passengers by 4.4 per cent and revenues up some seven per cent between January to March compared with year earlier levels.
Abertis was a nominee for last year’s Business Leader Awards hosted by the Jamaica Observer.
“In terms of indicators (mainly linked to MBJ’s airport in Jamaica), a strong performance (revenue up seven per cent) thanks, among other factors, to the increase in passenger numbers and tariffs,” it stated in its quarterly financials.
Abertis airport’s division has stakes in 30 airports in nine countries, with a worldwide traffic level exceeding 80 million passengers annually. Contextually, Abertis’ airports global business contributes just seven per cent of its wider conglomerate’s total revenues of ¤922 million. The conglomerate includes toll road, airports, car parks, logistics and telecom operations.
Government data from the Airports Authority of Jamaica (AAJ) reveals that that total passenger movement at MBJ Airport provisionally totaled 3.28 million in 2010 versus 3.24 million in 2009. Its not a passenger sizable rise however aircraft movements (which affects revenue) increased to some 39,360 or five per cent higher year on year.
Since 2003 MBJ Airport underwent a US$200-million expansion and modernisation financed by Abertis. Abertis controls 75 per cent of the MBJ Airports with Vancouver Airport Services controlling the remainder. Roughly 3.4 million passengers will pass through Sangster International Airport this year.
Spain still accounts for nearly half of the conglomerate’s revenues, followed by France with 36 per cent, Chile with five per cent, the UK with four per cent, and other countries (mainly Puerto Rico, Argentina, Colombia, Ireland, Italy, Jamaica, Sweden, Bolivia, the US and Portugal) with six per cent.