A significant expansion is underway at Mactan-Cebu International Airport, fueled by a long-term commitment from a key aviation services provider. MacroAsia Properties Development Corp., a subsidiary of MacroAsia Corp., has secured a fifteen-year lease for a substantial land parcel within the airport grounds.
The agreement, finalized with the Mactan-Cebu International Airport Authority, grants MacroAsia access to 26,297 square meters in the bustling cargo area. This strategic location will be dedicated to bolstering aviation-related services, promising increased efficiency and capacity for the rapidly growing airport.
The lease isn’t a fleeting arrangement; it includes an option for renewal for an additional decade. This extended timeframe, contingent upon mutual agreement and approval by the MCIAA board, signals a long-term investment and confidence in the region’s aviation future.
MacroAsia is a diversified company, deeply rooted in the aviation industry. Its core strengths lie in critical areas like aircraft maintenance, airline catering, and comprehensive ground handling services, alongside ventures in property development and water utilities.
Recent financial performance underscores the company’s robust position. Attributable net income for the first nine months of the year reached P1.02 billion, a notable increase from the P975.95 million reported during the same period last year.
This positive trend is mirrored in overall revenue growth, which climbed 5.71% to P7.41 billion between January and September. This demonstrates a strong demand for MacroAsia’s diverse range of services.
In-flight catering currently leads revenue generation, contributing P3.55 billion to the total. Ground handling and aviation services closely follow at P3.13 billion, with water distribution and administrative fees adding substantial contributions as well.
Investor confidence in MacroAsia was evident in recent trading activity. Shares experienced a modest increase, closing at P4.64 apiece, reflecting a positive market response to the company’s continued growth and strategic expansion.
