The net earnings of MacroAsia Corp., an aircraft support company, increased by more than four times in the first half of the year, thanks to a higher number of flights.
In the first semester, the company’s net income attributable to the parent company rose by 340 percent to P285.77 million from P64.84 million in the same period last year. The main driver of revenues, the in-flight and other catering businesses, contributed 51 percent and recorded a 143 percent increase to P1.88 billion. It served 11.11 million meals in the first half, showing a remarkable growth of 552 percent from 5.62 million in the previous year.
Revenues from groundhandling and aviation services also nearly doubled to P1.49 billion, as the number of flights served increased by 57 percent to over 88,400.
MacroAsia expressed optimism about the future, stating that operating cash flow would grow along with higher aviation-related revenues due to the easing of mobility restrictions in various countries. The company is expanding its capacity to meet airport requirements, while also implementing cash conservation and cost-control measures to guide its expansion.
The company’s aviation training school also experienced significant growth, contributing P38.48 million, nearly double the revenues it generated in the same period last year.
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