Growth across both aero and non-aero revenue streams in 2018 was significant, with aero income increasing by 18 per cent and non-aero income rising by 28 per cent.
MUHARRAQ, BAHRAIN – Gulf Air Group Holding (GFG) Chairman, His Excellency the Minister of Transportation and Telecommunications, Eng. Kamal bin Ahmed Mohammed announced a BD19.3 million net profit for Bahrain Airport Company (BAC), the operator and managing body of Bahrain International Airport (BIA), in 2018, a significant jump compared to BD12.9 million the previous year. The growth witnessed during the year is attributable to an overall increase in BIA’s activities. The figures were revealed during a recent GFG Board of Directors meeting headed by HE the Minister.
At the beginning of the meeting, the attendees praised the positive results of His Royal Highness the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister Prince Salman bin Hamad Al Khalifa’s inspection visit to the new Passenger Terminal Building at Bahrain International Airport. They also lauded HRH the Crown Prince’s commitment to developing Bahrain’s economy, particularly the aviation sector.
Commenting on the results, HE the Minister said: “These impressive figures are the result of collaborative efforts between BAC and its partners, as well as ongoing improvements to BIA’s infrastructure and services as part of the Airport Modernisation Programme. With the company’s solid financial position, increased business activity, and a promising operating environment at BIA, we are confident that we can build on our success in 2019, continuing the aviation sector’s contribution to the local economy in line with Bahrain’s Vision 2030. The launch of the new Passenger Terminal Building later this year, which will increase BIA’s capacity to 14 million passengers a year, is expected to generate even further growth across both aero and non-aero revenue streams.”
He also added that the results come on the back of a 21 per cent increase in revenues to BD51 million, up from BD42 million at the end of 2018. The year saw a surge in cargo traffic, which reflects BIA’s ability to handle significantly larger volumes and reaffirms the Kingdom’s position as an important regional logistics hub. In addition, the increased number of airlines operating out of BIA resulted in greater revenue from landing fees and heavy footfall through retail areas.
Growth across both aero and non-aero revenue streams in 2018 was significant, with aero income increasing by 18 per cent and non-aero income rising by 28 per cent. The main contributors to aero revenue growth were passenger service charges, at 56 per cent of the total aero revenues, and landing fees at 19 per cent. The increase in non-aero revenues is largely due to property and real estate income, which makes up 33 per cent of the total non-aero revenues, followed by retail concession income at 31 per cent.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
