Mactan Cebu Airport Posts 1.1B Pesos Revenue

 15 April 2021

By Carlo Lorenciana

The Mactan-Cebu International Airport (MCIA) posted a revenue of PHP1.11 billion last year as passenger traffic plunged amid the coronavirus disease 2019 (Covid-19) pandemic. 

This was disclosed on Thursday by Megawide Construction Corp., one of the firms managing the country’s second busiest air hub, saying MCIA’s revenue made up 9 percent of the company’s total earnings for 2020. 

 

Megawide said MCIA’s total passenger count reached 2.7 million last year, with the domestic and international segments struggling at 1.9 million and 789,328 passengers, respectively. 

 

Total air traffic was likewise confined to 26,544 movements, split into 20,514 domestic and 6,030 international flights.

 

Meanwhile, the share of commercial revenues to total grew to 44 percent as of end 2020, mostly conducted through cashless purchases and non-contact interaction to prevent virus transmission from less than 30 percent five years ago. 

 

The level inched closer to the targeted 50-percent benchmark noted in major international gateways, Megawide said.

 

Since the reinstatement of local travel in June, 85 new domestic flights were recommissioned by partner airlines to service MCIA’s predominantly domestic routes. 

 

Average passenger throughput also improved to around 2,000 daily in December from 1,100 daily during the resumption of flights.

 

In a statement, Megawide chairman Edgar Saavedra said while travel and tourism in general have yet to show signs of recovery on the back of worldwide vaccine rollout, GMR-Megawide Cebu Airport Corp., the consortium operating the airport, remains optimistic about the country’s own vaccination drive to serve as catalysts for revenge travel, both from the domestic and international fronts.

 

Overall, Megawide described 2020 as a year of recalibration, particularly in the growth opportunities to pursue and the strategic objectives to prioritize.

 

Saavedra said the firm remains focused and committed to its vision of engineering a “First-World Philippines” regardless of the business condition. 

 

“For instance, we completed the Clark International Airport Terminal 2 and successfully hurdled the Swiss challenge for the Carbon Modernization Project in November despite the challenges posed by the pandemic. We believe that our determination and agility ensure that the company's operating businesses continue to grow to create a positive impact on people’s lives and livelihoods, and ultimately, the entire economic ecosystem,” he added. 

 

The infrastructure giant is redeveloping the Carbon Market, the biggest wet market here, in a joint venture agreement with the city government of Cebu. (PNA)