Aviation recovery lifts MacroAsia profit

Aviation support service provider MacroAsia Corp. doubled its profit to nearly P600 million in the nine months to September, benefiting from the upswing in air travel and the expansion of its water business.

-  ELIJAH FELICE ROSALES

In a disclosure to the Philippine Stock Exchange, MacroAsia said its net income jumped to P578.77 million from January to September, from P259.55 million a year ago.

Revenue went up by 79 percent to P5.74 billion on an across the board growth in all of its segments, offsetting the 65 percent spike in expenses to P4.38 billion.

MacroAsia handled 134,750 flights during the period, rising by 43 percent as airlines required additional support with demand for air travel normalizing. The company attributed half of its revenue to in-flight services, while 39 percent came from ground handling.