Passenger volumes at Malta International Airport are forecast to reach a historic milestone in 2024, as the company expects to handle 8 million passengers by the end of the year.

The announcement was made during Malta International Airport’s yearly traffic press conference held earlier today, where CEO Alan Borg presented the company’s results for 2023.

Full-year traffic increased by 6.7% over 2019, amounting to a record 7.8 million passengers for 2023. This represents a growth of almost 500,000 passenger movements, which is comparable to the throughput of an average winter month for the airport.

In parallel, the airport also outperformed pre-pandemic levels in terms of seat load factor, as each month of the year registered varying degrees of growth over 2019, peaking in August at an all-time high of 91.4%.

“2023 was an unprecedented year for Malta International Airport, with record figures being posted month on month for the first time since 2019. While travel demand has remained resilient throughout the year, we are entering 2024 with cautious optimism, as we expect to see passenger traffic growth level off over the coming months, while continuing to face macroeconomic and geopolitical headwinds,” said Alan Borg.

He then went on to thank the airport team and all stakeholders for their invaluable contributions to the company’s outstanding performance.

Malta Tourism Authority (MTA) Deputy Chief Executive Officer, Leslie Vella, also commended the company’s performance, stating that the long-standing partnership between Malta Airport and the MTA has been a cornerstone in the achievement of record results for the Maltese tourism industry as a whole. With a momentous 8 million passenger milestone on the horizon, Mr. Vella pledged the authority’s commitment to continue working with the airport to register further sustainable, year-round growth.

2024 also promises to be a pivotal year in terms of infrastructural developments for Malta International Airport. They are currently concluding the first phases of the westward expansion of the terminal and the construction of Apron X, while commencing works on the VIP Terminal and SkyParks Business Centre 2 developments.

The company has also set the following financial targets for 2024:

Total revenue is expected to reach €126 mln

EBITDA is expected to reach €79 mln

Net Profit is projected to be €42 mln

Planned CAPEX is expected to be €45 mln

As Malta’s sole air terminal, Malta International Airport connects the Maltese archipelago to over 100 destinations. In 2023, the airport welcomed 7.8 million passengers, marking a growth of 6.7% in passenger traffic over 2019.

The airport team is guided by a vision of service excellence, which has led MIA to clinch the title ‘Best Airport in Europe’ for 2018, 2019, 2020, 2021 and 2022. To uphold this reputation and to be able to cater for an ever-increasing number of passengers, the company has consistently invested in the airport campus since the airport’s privatisation in 2002.

The company announced a five-year investment programme totalling €250 million in 2023, aimed at enhancing the airport's infrastructure and ensuring that Malta International Airport can seamlessly handle increasing volumes of passengers, whilst reaching its environmental targets and continuing to develop the airport campus.

Apart from these investments into the airport’s infrastructure, Malta International Airport also invests into the Maltese Islands’ cultural heritage and environment through the Malta Airport Foundation which will be celebrating its 10th year anniversary this year.