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Signing Ceremony of Sister Airports Letter of Intent Between Macau International Airport Company Limited & Winnipeg Airports Authority

2007 / 09 / 10

A Sister Airports Letter of Intent Signing Ceremony between Macau International Airport Company Limited and Winnipeg Airports Authority Inc. (Canada) was held on 7th September 2007, at the 5th floor function room of CAM Office Building. In 2006, there were two similar sister airports relationship with XI'AN XianYang International Airport and WUXI Airport Co., Ltd. respectively have been developed. Since 2005, Macau International Airport commenced its sister airport relationship between airports, Winnipeg Airports Authority Inc. is counted to be the 8th airports with which Macau International Airport Company Limited is developing a Sister Airports relationship with. It is also the first cooperative agreement of tactics of the same type that we signed with the American area, this has been marking development of the civil aviation industry of Macau since originally confining to Greater China area and developing to the regionality of country in Southeast Asia, this act help to setting up the development goal that will move towards and open up the international network further in the future.

The signing ceremony was officiated by Dr. Deng Jun, Chairman of the Board of Director and Executive Committee, Macau International Airport Co. Ltd. and Mr. Barry Rempel, President and CEO of the Winnipeg Airports Authority Inc. and was also honored with the attendance of Mr. Lau Si Io ,Secretary for Transport and Public Works of Macao SAR., Mr. Jim Rondeau, Minister of Competitiveness, Training and Trade, Government of Manitoba, Canada, Mr. Simon Chan, President of Civil Aviation Authority of Macau, Mr. Douglas Taylor, Director Asia Pacific, Manitoba Trade Government of Manitoba, Canada, Mr. Ng Fok, Executive Director of Macau International Airport Co. Ltd., Mr. Richard Walker, Senior Representative of Winnipeg Airports Authority Inc., Ms. Suning Liu, Executive Director of Macau International Airport Co. Ltd. and as well as senior management of the both sides to witness the signing. The establishment of this strategic corporation is to obtain a whole range of advantages through the cooperation of both airports in terms of resources sharing, the complement of each other's advantages to get a win-win situation, long term corporation and working together for future development aiming to develop more routings, to explore new markets and exchange of management experience.

Mr.Deng Jun expressed in his speech that the ceremony held was just a start up point for both of the airports; he deeply believes that with efforts putting through and supports extended by governments of both sides, passengers and economical growth could be tied-up by means of build up a linkage bridge in between.

According to statistics, from January of this year to August, Macau International Airport handled a total of 3.7 million passengers, a growth rate of 13.08%, 35,376 aircraft movement was recorded, representing a growth of 5.4% in compare with same period last year. If calculated according to year, Macau International Airport obtained the best operational result since the commencement of Airport operation in 2006, we have a record of 51,000 aircraft movements, handled nearly 5 million passengers and with cargo throughput 220,000 tons respectively, with an average annual growth rate 20% and 19% from year 2004 to 2006.

In the finance aspect, there is an average annual growth rate of 19% in the annual income involved by the airport operators. In general, in the year of 2006, contribution by Macau International Airport to the local community in areas of accommodation, food & beverage, shopping, transportation and entertainment was closed to 6 billion. In 2006, Macau International Airports has a revenue of MOP57.26 million, in compare with 2003, there is an significant increase of 71% while operating cost with only a slightly increased averagely by 7% from year 2004 to 2006. As for net loss, public interests has to be considered, therefore it is impossible to have a high range of increase on landing and take off fees, in 2006, we was still facing a net loss amounting MOP$62.7 million, however, compare with 2003, we have already cut down our net loss to nearly 70%.

By providing a high-efficiency service and maintaining a competitive rate of landing and take-off fees, will help to attract more passenger flow and airfreight using Macau International Airport, bringing to the region a direct or indirect economy effect, this kind of effect on this strategic action is far greater than those lose made on the financial affairs. In addition, in last year, Macau International Airport Co. Ltd. repaid for the shareholders the financial expenses close to MOP$70 million.