Aviation support services provider MacroAsia Corp. reported profit in the first quarter this year dropped 92 percent to P17.6 million,P215 million profit in the same period last year, due to the impact of the coronavirus disease (COVID-19) on its operation.
The company’s revenues from in-flight catering rose 43 percent to P640 million in the first quarter, from P447.2 million a year ago due to the increase in the number of meals served to airline clients to 3 million in January to March, from 1.9 million meals served the year earlier.
Revenues from ground-handling and aviation services grew 32 percent to P627 million three months into the year, from P473.6 million last year.
“The growth is due to continuous passenger and ramp services for the domestic and international flights of PAL and PAL Express and other air carriers which increased by 16 percent from 38,257 in 2019 to 44,313 in the current year,” MacroAsia said.