JIS News

The Transport and Works Ministry has reported that the Airports Authority of Jamaica (AAJ) Group netted $239.7 million in surplus in the last financial year, which is $14.5 million above projections.
The financial performance of the AAJ Group, up to February 2009, also surpassed the results for the corresponding period in the previous year.
Based on figures from the 2009/10 Sectoral presentation by Transport and Works Minister, Hon. Mike Henry, the operating surplus for the last financial year was $552.6 million compared to $462.5 million in the 2007/2008 financial year.
Despite the surplus, the Transport Ministry said the operating surplus fell below expectations. It said there was a $60 million shortfall, as it was budgeted that the AAJ Group would see an operating surplus of $612.6 million.
The Ministry noted that a key cost containment initiative within the fiscal year was the boosting of the energy management programme at the Norman Manley International Airport in Kingston. This included the implementation of new start and shutdown times for major energy consuming equipment, such as air-conditioning.
To increase revenue growth in this fiscal year, the AAJ Group will be focussing on boosting non-aeronautical revenues. The Ministry said the AAJ plans to improve the retail offerings of the airports as well as introduce ‘pay per use’ executive departures and arrivals lounges, which the Ministry said should become fully operational in this financial year.
The Ministry projects that non-aeronautical revenues will increase by 13 per cent in 2009/10 over the previous year’s revised budget. Total operating expenses are expected to be contained within an increase of seven per cent over the revised budget for 2008/09.

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