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Hainan Meilan Airport reports 22% revenue growth in 2024 interim results

Hainan Meilan International Airport Company Limited

Hainan Meilan Airport shows robust 2024 growth with RMB 1.149 billion revenue, despite arbitration loss; aims to expand global route network.

HAIKOU, CHINA – Hainan Meilan International Airport Company Limited released its interim results for 2024. As of June 30, 2024, the company reported total assets of RMB 10.735 billion, total liabilities of RMB 6.754 billion, and net assets attributable to shareholders of the listed company of RMB 4.025 billion. The asset-liability ratio stood at 62.91%, maintaining a relatively reasonable level. For the first half of 2024, the Company achieved revenue of RMB 1.149 billion, with aviation business revenue reaching RMB 604 million, representing a year-on-year increase of 22.09%. Production operations continued to exhibit a strong and steady growth trend.

In terms of net profit, net profit attributable to shareholders of listed companies in the first half of 2024 amounted to a loss of RMB 248 million. This loss was primarily due to the arbitration settlement with Aero Infrastructure Holding Company Limited, which required Meilan Airport to make a compensation payment of approximately RMB 273 million. The full provision for this amount resulted in the interim net loss. However, excluding the impact of the arbitration compensation, the company effectively recorded a net profit attributable to shareholders of around RMB 25 million. The arbitration outcome, which significantly reduced the originally claimed amount of RMB 2.7 billion, represents a more favorable result than initially anticipated.

Meilan Airport Passengers

In terms of core airport operations, Meilan Airport handled a total of 98,900 aircraft movements, transported 14.4937 million passengers in the first half of 2024. These figures represent year-on-year increases of 15.89%, 20.3%, and 25.01%, respectively, with all operational metrics reaching historical highs for the same period. In 2024, to meet the increasingly diverse travel demands, Meilan Airport has been optimizing its route network. As of June 30, 2024, the airport operated 34 international and regional passenger routes, covering 21 key cities across Southeast Asia, Northeast Asia, Australia, and Europe.

Regarding brand development, in the first half of 2024, Meilan Airport was honored with “Excellent Airport in Service Quality above 10 Million Passengers” and “Excellent Airport in Comprehensive Service above 20 Million Passengers” in the “Civil Airport Service Quality Evaluation Report of 2023” and Civil Aviation Passenger Satisfaction Index of 2023 released by domestic civil aviation authorities. Internationally, Meilan Airport achieved significant recognition by winning the SKYTRAX “Global Five-Star Airport,” “Best Regional Airport in China,” and “Best Airport Staff in China” awards. These accolades underscore the airport’s standards in service innovation and quality, enhancing its industry influence and global reputation.

Looking ahead, Meilan Airport will anchor its strategic positioning and goal of becoming an aviation regional gateway hub for the Pacific and Indian Oceans. The company will continue to advance its timetable expansion and Phase III expansion preparations, focus on expanding both domestic and international route networks, proactively explore non-aeronautical revenue growth opportunities, accelerate the development of new quality civil aviation services, and strive to establish a benchmark in domestic civil aviation service and a world-class service brand.

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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