MAHB hits back at Tony Fernandes' 'SPENDING LIKE NO TOMORROW' comment

AIRASIA Bhd was among those who benefited from the incentives extended by Malaysia Airports Holdings Bhd (MAHB) that helped the low-cost carrier to become a successful airline today.

MAHB said it had specifically introduced an incentive programme to support the growth of AirAsia at its infancy stage.

"Since 2002, AirAsia has been a beneficiary of MAHB's strong financial performance as it had received the most incentives over the last 10 years, despite it not being the airline that contributed the highest number of passengers or revenue," MAHB said in a statement.

The airport operator said it has been making profit annually since it was incorporated 22 years ago.

It said over the past 15 years, since being listed, it has continuously paid the concession fees and taxes to the government, issued dividends to shareholders, paid incentives to airlines and still remained profitable. AirAsia Bhd is among those who benefited from the incentives extended to airlines.

Earlier this week, AirAsia group chief executive officer Tan Sri Tony Fernandes was quoted in various media and news portals that Malaysia Airlines (MAS) and MAHB have to start churning profit to avoid burdening taxpayers. He had also criticised MAS and MAHB for their continued spending and losses and that "they are spending like there is no tomorrow", which hurts decent players in the business.

MAHB said this has resulted in several enquiries being directed to MAHB, especially by shareholders.

"It is not MAHB's policy to comment on statements made by our partners, but in this case, we have been advised that as a public-listed company, we need to correct the information related to MAHB.

"MAHB wishes to clarify that since its incorporation 22 years ago, its financial performance has been showing consistent profits yearly," the airport operator said.

MAHB, which became the first airport company in Asia to be listed in 1999, manages and operates 39 airports in Malaysia.

In its financial year ended December 31 2013, MAHB reported net profit of RM388.93 million on the back of RM4.1 billion revenue, compared with RM394.5 million net profit and RM3.55 billion revenue. Its earnings per share was 31.73 sen, from 33.24 sen a year ago. - BT