Giant 20% leap in revenue recorded
Bahrain’s Minister of Transportation and Telecommunications and Gulf Air Group (GFG) Chairman, Kamal bin Ahmed Mohammed has announced that Bahrain Airport Company (BAC) has achieved a US$34 million net profit for 2017.
The figure for 2017 represents a huge growth on the $20 million recorded in 2016.
The announcement came during a Ramadan Ghabga held at the Wyndham Grand hotel, which was organised by BAC for its partners, and attended by representatives of top Middle Eastern airlines, government officials and the media.
The minister said: “These impressive figures are the result of the immense collaborative efforts between our team and partners, as well as improvements made to BIA’s infrastructure and services as part of the ongoing Airport Modernisation Programme (AMP).
“[The rise in revenue] can be attributed to a general increase in BIA’s activities, including a 10% increase in air cargo traffic during 2017, which not only demonstrates BIA’s capacity to handle significantly large volumes, but also reflects the Kingdom’s growing status as a hub for logistics operations in the region.
“With our solid financial position, growing order books, and a promising operating environment, we are optimistic that we can build on our success in 2018.”
BAC also signed a three-year airfield maintenance services agreement, with the possibility of an extension, with Nass Group, which is to be carried out by Nass Asphalt.
Following the signing, the minister said: “We are happy to sign this agreement, which is a good example of our partnerships with local companies, one of the pillars of the Kingdom’s economic development.
“This deal aims to provide maintenance services in the airport’s airside in line with the requirements of Civil Aviation Affairs and the International Civil Aviation Organisation (ICAO), resulting in a streamlining of operations at BIA.”
Nass Group won the contract following a public tender that included bids from six road contractors classified as AA Class by the Ministry of Works.