Air Macau suffered net losses of RMB 464 million (US$67.4 million) between January and June this year, according to data from Air China released today by Tribuna de Macau newspaper.
During the first six months of 2019, Air Macau, 66.9 per cent owned by Air China, had profits totalling RMB 71 million.
According to the paper, a report sent to the Shanghai Stock Exchange also mentions that the revenues of Air Macao amounted to RMB 457 million in the first half of 2020, a drop of 75.34 per cent year-on-year.
During the first six months of 2020, Air Macau transported 372,800 passengers, a drop of 79.28 per cent and saw the average flight occupancy rate drop to 60.25 per cent compared to the 81.42 per cent recorded in the period between January and June of last year.
According to Tribuna de Macau, the airline’s activity was practically nil in the second quarter of 2020 – 99.5 per cent of the total for the semester (370,900 passengers) used flights between January and March, with the an occupancy rate of 65.71 per cent.
Air Macau accumulated profits of MOP 1.66 billion (US$207.5 million) between 2010 and 2019, obtaining the best record in 2013, with net gains of MOP 281.5 million.
At the end of June, the company’s fleet comprised 22 aeroplanes, all manufactured by Airbus, with an average age of 6.55 years.
In early March, Air Macau purchased an Airbus A320neo from China Aircraft Leasing.
As part of the fleet renewal strategy, the carrier had already received three A320neos from BOC Aviation in April, May and June 2019, and an A321neo, delivered by Air Lease in December.