Air Macau concession contract already extended for three more years

Air Macau’s exclusive concession has already been extended for three more years effective from November 9, according to an Official Gazette dispatch published today (Wednesday).

According to the dispatch the contract amendment was signed by the Financial Services Bureau on September 28.

During this year’s government policy debate, Secretary for Transport and Public Works Raimundo Arrais do Rosário revealed that the local airline would see its concession extended.

The 25-year exclusive concession was due to finish in November of this year however the Civil Aviation Authority of Macau SAR (AACM) considered it should be extended for three more years on the need to maintain ‘stability’ in a local airline industry strongly impacted by Covid-19.

Air Macau reported net losses of RMB464 million (MOP539.5 million) in the first half of this year, after having reported RMB71 million in the same period of 2019.

The local airline’s revenues also dropped by 75.3 per cent year-on-year between January and June to some RMB457 million, as passenger numbers plunged by almost 80 per cent due to the pandemic.