Air Macau finishes 2020 with more than MOP1 bln in losses

Air Macau ended 2020 with a total of RMB918 (MOP1.1 billion/US$139.6 million) in losses according to the latest financial report issued by its parent company Air China, newspaper Tribuna de Macau.

Showcasing the full brunt of the pandemic impact, results represented the first time the Macau flag carrier did not report profits for the last 10 years, with some MOP1.6 billion in accumulated profits between 2010 and 2019.

According to the Air China report, Air Macau’s operating revenues amounted to RMB665 million in 2020, reflecting an annual decrease of 81.9 per cent year-on-year, while passenger numbers plunged by 85 per cent to 545,900.

The average occupancy rate of flights stood at 51.6 per cent, indicating an annual decrease of 27.4 percentage points.

At the end of 2020, the company’s fleet comprised 21 airplanes, two less than a year earlier, all manufactured by Airbus.

Last year the Macau SAR government and Air China approved a MOP2.2 billion capital injection into Air Macau as a way to help the local airline face the economic impact the Covid-19 pandemic caused in the sector.

The company also saw its public carrier concession extended until 2023.

Meanwhile, Air China itself reported net losses of RMB14.4 billion in 2020, with revenues falling 49 per cent year-on-year to RMB69.5 billion.

The company responsible for operating the Macau International Airport has also reported some MOP462 million in income for 2020, a 75 per cent year-on-year drop, as the pandemic seriously disrupted travel to and from the SAR, finishing the year with MOP652 million in net losses.