MacroAsia Corp. is optimistic about its prospects in 2023 as it reported a profit of P461.43 million last year, reversing from a P150.92- million loss the prior year.
Revenues grew 151 percent to P4.88 billion from P1.95 billion in 2021.
“The favorable operating conditions of MacroAsia’s subsidiaries and affiliates in 2022, as well as the success of the drive to grow the Group’s non-airline business units resulted into the strong topline growth,” the company said.
MacroAsia said its profit came from the contributions of its aircraft maintenance, repair and overhaul joint-venture, airline catering and food services units, ground handling and water distribution and concession businesses.
“The MacroAsia Group is in an industry that was impacted in 2020 when various airports faced passenger travel restrictions. MacroAsia adjusted its strategic focus, growing its other businesses not related to aviation as its core airline-related business units went on standby mode. Thus, 24 percent of the topline for MacroAsia in 2022 now come from non-airline related activities,” the company said.
“The momentum for MacroAsia’s revenue growth in 2023 is apparent, as the aviation services industry tracks towards strong recovery while the non-airline businesses of the Group continue to expand,” it added. – Ruelle Castro
