MacroAsia Airport Services Corp. on Wednesday reported net income rising 122 percent to P849.10 million in the first half of the year compared to last year.
The company said the growth was fueled by a robust 29-percent rise in revenue to P4.77 billion and the substantial contribution of its associates.
In the second quarter alone, MacroAsia reported record-high revenue of P2.55 billion helping push net income surging to P512.06 million.
Inflight catering and food services revenue went up 14 percent to P2.15 billion on more meals sold worth P11.56 million in the first six months.
MacroAsia’s food segment is completing a new commissary just outside the airport as its five-year old facility in Muntinlupa City is nearing full capacity due to the rapid growth of its clients.
Ground-handling services posted a 48 percent revenue increase, reaching P2.19 billion, supported by the handling of 98,026 flights during the period.
Additionally, water operations contributed P327.13 million, a 14 percent expansion traced to increased volume in water concession accounts.
Despite a 22 percent increase in total direct costs amounting to P3.44 billion, its growth rate was lower than revenue growth and underscores the company’s effective cost management strategies.
MacroAsia attributed its growth largely to aircraft maintenance, repair, and overhaul (MRO) operations in joint venture with Lufthansa Technik Philippines (LTP).
LTP reported a quarterly net income of P592.33 million, with MacroAsia’s 49 percent share amounting to P290.24 million. Other contributing associates include Japan Airport Service Co., Ltd., based in Narita, Japan, and Cebu Pacific Catering Services in Mactan, Cebu.
MacroAsia plans expanding operations to Clark, Pampanga to address the growing demand for repair services of wide-body aircraft clients from around the world.
