MIA LINK - MARCH 2022

MIALink March 2022 Issue No. 25

maltairport.com

THE SHAREHOLDERS’ NEWSLETTER

Welcome

SUBSCRIBE TO THE DIGITAL VERSION OF THE MIA LINK

L-MIA LINK ISSA B’VERŻJONI DIĠITALI

As part of our commitment to keep improving our communication with shareholders, we have just launched a digital version of the MIA Link. Through the online version, which is not envisaged to replace the printed publication, we will be able to update you more frequently on projects and announcements that may be of interest to you, as a shareholder.

Bħala parti mill-impenn tagħna li nkomplu ntejbu l-komunikazzjoni tagħna mal-azzjonisti, għadna kemm nedejna verżjoni diġitali tal-MIA Link. Permezz ta’ din ilverżjoni, li mhix maħsuba li tieħu post il-pubblikazzjoni stampata, ser inkunu nistgħu nibagħtulek aħbarijiet aktar frekwenti dwar dak li jkun qed jiġri fl-ajruport u li jista’ jkun ta’ interess għalik bħala azzjonist.

You can sign up to the newsletter at this link: maltairport.com/shareholders-newsletter/ If you encounter any difficulties, do not hesitate to get in touch via email on shareholders@maltairport.com.

Sabiex tibda tirċievi l-MIA Link diġitali nistednuk iżżur din il-link: maltairport.com/shareholders-newsletter/ Jekk issib xi diffikultà, tista’ tibgħat email fuq shareholders@maltairport.com u nkunu nistgħu niggwidawk minn hemm.

TERMINAL UNDER CONSTRUCTION

VIEW OF TERMINAL FACADE 1992

More photos from our archives on pages 12-13

Merħba

TO THE MARCH ISSUE OF THE MIA LINK

GĦALL-ĦARĠA TA’ MARZU TAL-MIA LINK

Dear Shareholder,

Għażiż Azzjonist,

2022 marks 30 years since the present terminal was inaugurated. Chances are that you have some hazy recollections of this day in February back in 1992, which heralded a new era for air travel and connectivity for the Maltese Islands. To jog your memory, we have looked through our archives and included some of our favourite photos of the terminal throughout the years in this issue.

L-2022 timmarka 30 sena mill-inawgurazzjoni tat-terminal preżenti. Hemm possibbiltà kbira li għandek xi memorji ta’ dan il-jum fi Frar tal-1992, li ta bidu għal era ġdida għallivvjaġġar bl-ajru u l-konnettività tal-gżejjer Maltin. Sabiex inġibulek xi ftit memorji, dorna l-arkivji tagħna u f’dan ilfuljett inkludejna għadd ta’ ritratti tat-terminal tagħna matul is-snin.

Is our thirtieth year more important or significant to Malta International Airport’s history than the years before it?

Possibly not. But there seems to be something about multiples of five – 15, 20, 25, 30 – that compels individuals, organisations and whole countries to stop and take stock of how far they have come. And that is what we will be doing throughout the coming year: we will be looking back on the past three decades and revisiting the people, the moments, the investments and the challenges that turned these 30 years into a remarkable story and our terminal into something more than a building.

Forsi wieħed jistaqsi jekk it-30 sena mill-inawgurazzjoni hijiex aktar importanti jew sinifikanti għall-istorja talAjruport Internazzjonali ta’ Malta mis-snin ta’ qabilha. U t-tweġiba hija, x’aktarx le. Iżda donnu jeżisti faxxinu b’ċerti numri – bħall-15, l-20, il-25, it-30 – li jġiegħel lil individwi, organizzazzjonijiet u pajjiżi sħaħ jieqfu ftit sabiex jevalwaw il-vjaġġ li jkun wassalhom sa dik is-sena. Aħna ħassejna l-bżonn li nagħmlu l-istess fix-xhur li ġejjin; se nkunu qegħdin inħarsu lura lejn it-tliet deċennji li għaddew sabiex infakkru n-nies, il-mumenti, l-investimenti u l-isfidi li sawru dawn l-aħħar 30 sena fi storja li tagħmilna kburin.

This will inevitably trigger a fair share of longing for days when travel - and life in general - was less complicated than it has recently become, offering us a momentary escape from the uncertainty and instability that continue to surround our industry. But we will certainly not let nostalgia distract us from what lies ahead. We have, in fact, chosen the tagline: Proud of our past, geared for the future, to encapsulate the significance of this year to the team at Malta International Airport.

Hekk kif inħarsu lura, żgur li ser titqanqal nostalġija għal jiem meta l-ivvjaġġar – u anki l-ħajja b’mod ġenerali – kien anqas ikkumplikat; nostalġija li forsi tippermettilna naħarbu ftit mir-realtà ta’ inċertezza u instabbiltà li għadha tikkundizzjona l-industrija tagħna. Iżda din il-ħarba mirrealtà għandha tkun biss temporanja u ma għandhiex tfixkilna milli nħarsu ’l quddiem b’determinazzjoni. Fil-fatt, għażilna l-islogan: Kburin bil-passat tagħna, lesti għallfutur, sabiex f’sentenza nippruvaw niġbru x’tissimbolizza din is-sena għat-tim tal-ajruport.

Thank you for your support so far. To the next 30 years!

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The year 2022 could have been off to a better start, but we are confident that over the coming months the situation will continue improving, particularly as more countries shed travel restrictions and people re-discover the joys of travel.

Ninsabu lesti sabiex inqumu fuq saqajna u nimxu lejn jiem meta t-terminal tagħna jerġa’ jieħu l-ħajja li kienu jagħtuh tant passiġġieri qabel il-pandemija. Meta l-profitti tagħna jippermettulna niġġeneraw valur ekonomiku akbar fost l-istakeholders tagħna. Meta l-azzjonisti tagħna jerġgħu jibdew jirċievu d-dividend. Meta ninħelsu mill-ixkiel tal-inċertezza u nkunu nistgħu nerġgħu nagħtu prijorità lill-viżjoni fit-tul tal-Kumpanija għall-Ajruport Internazzjonali ta’ Malta.

Is-sena 2022 setgħet bdiet fuq nota ħafna aħjar, iżda ninsabu kunfidenti li matul ix-xhur li ġejjin is-sitwazzjoni ser tkompli titjieb, speċjalment hekk kif aktar pajjiżi jagħżlu li jneħħu ċerti restrizzjonijiet fuq l-ivvjaġġar u aktar persuni jerġgħu jiskopru s-safar.

Grazzi tal-appoġġ tiegħek sa issa. Ħerqanin li naqsmu t-30 sena li jmiss miegħek.

MIA Link March 2022 Issue No. 25

We are indeed geared to get back on our feet and march on towards days when our halls are alive with the excited chatter of people about to take off. When our profits allow us to distribute more economic value among our stakeholders.

When it becomes a matter of when, not if dividend is paid.

When we are freed from the shackles of uncertainty and can once again prioritise the Company’s long-term vision for our airport.

Merħba għall-ħarġa ta’ Marzu tal-MIA Link

Welcome

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MESSAGE FROM

the CEO “Don’t tell me how educated you are. Tell me how much you’ve travelled.” I have started my message with this quote, to which different authors have been attributed, as it made me reflect upon the importance of travel. Beyond it being a facilitator of leisure activities and a means by which distances between us and relatives living abroad - or indeed overseas opportunities are bridged, travel gives us access to some of the most impactful learning experiences, in different cultural, social and natural environments, that allow us to develop into more well-rounded individuals.

Keeping in mind these multifaceted benefits, and the fact that air connectivity is even more crucial to islands than landlocked states, it is no wonder that the inauguration of a new air terminal 30 years ago was hailed as a huge milestone for the country. With the opening of the terminal’s doors back in February 1992, the Maltese Islands’ metaphorical doors to the rest of the world were also flung wide open and, in the last 20 years alone, our halls have witnessed the start and end of more than 75 million journeys.

Throughout the years, continued investment in the terminal building, which was originally designed to eventually handle 2.5 million passengers annually, allowed us to welcome a record 7.3 million passengers - around 2.7 million of which were inbound tourists - in 2019 alone. The COVID-19 pandemic and its profound impact on the way we travel decimated these numbers, leading to the closure of the year 2021 with the same number of passengers that was being eyed back in the nineties: 2.5 million.

MIA Link March 2022 Issue No. 25

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Message from the CEO

In the decade leading to the COVID-19 outbreak, tremendously improved connectivity, better flight frequencies, and lower air fares, led to many of us taking air travel and its direct and indirect economic impacts for granted. I feel that through the havoc that this pandemic has wreaked on aviation, as travellers, we were given an opportunity to appreciate anew the ease with which we could take flight prior to 2020; an ease that partly resulted from years of hard work and traffic development.

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As tourism and aviation operators, on the other hand, we were reminded of the enormous responsibility that comes with working within an industry that is a major contributor to the local economy. As a Company, we believe that part of this responsibility can be shouldered through further longterm investment in the terminal and airfield infrastructure, which would allow us to eventually start eyeing growth, whilst still delivering the 5-star service we have always placed so much importance upon.

The Company recently approved the Apron X multi-million project, which will entail the largest investment in the aerodrome infrastructure since 1998. The approval of a project that will equip us with more aircraft parking spaces may appear to be at odds with the passenger numbers and aircraft movements we have been reporting of late, but the decision to finally give the green light to this project is our strongest statement yet about our confidence in the industry’s recovery to pre-pandemic levels and its potential to grow even further.

I would like to end my message with a heartfelt thank you for your continued confidence in Malta International Airport and for supporting us in arriving at this juncture of our journey fully determined to see our industry flourish again.

IL-MESSAĠĠ

Tas-CEO “Tkellimnix dwar x’livell ta’ edukazzjoni rċevejt. Għidli kemm-il vjaġġ għamilt.” Xtaqt nibda dan il-messaġġ b’din il-kwotazzjoni li ġegħlitni nirrifletti dwar l-importanza tal-ivvjaġġar. L-ewwel affarijiet li jiġu f’moħħ ħafna persuni meta jissemma l-ivvjaġġar huma l-btajjel, membri tal-familja li jgħixu barra minn Malta, u opportunitajiet lil hinn minn xtutna. Iżda l-ivvjaġġar jagħtina wkoll aċċess għal uħud mill-aqwa esperjenzi ta’ tagħlim, f’ambjenti kulturali, soċjali u naturali differenti, li jgħinuna niżviluppaw f’individwi aktar kompluti.

Fid-deċennju li wassal għal din it-tifqigħa, konnettività mtejba immens, titjiriet aktar frekwenti u biljetti tal-ajru aktar irħas, wasslu lil ħafna minna sabiex la baqgħu japprezzaw l-ivvjaġġar bl-arju u lanqas l-impatti ekonomiċi diretti u indiretti tiegħu. Fuq livell personali, inħoss li t-taqlib li ġabet magħha l-pandemija fl-industrija tana l-opportunità, bħala vjaġġaturi, li nerġgħu napprezzaw mill-ġdid il-faċilità li biha stajna nsiefru qabel l-2020; faċilità li rriżultat parzjalment minn ħidma sfiqa fir-rigward tal-iżvilupp tat-traffiku.

Ftit tal-ġimgħat ilu, il-Kumpanija approvat il-proġett ta’ Apron X li jlaħħaq ftit anqas minn €40 miljun u li ser ikun l-akbar investiment fl-ajrudrom mill-1998 ’l hawn.

L-approvazzjoni ta’ proġett li ser jgħammarna b’aktar spazji ta’ parkeġġ għall-ajruplani forsi tistona xi ftit mannumri ta’ passiġġieri u movimenti tal-ajruplani li qegħdin nirrapportaw dal-aħħar. Però d-deċiżjoni li nagħtu bidu għal dan il-proġett hija l-aktar dikjarazzjoni b’saħħitha talkunfidenza tagħna li l-industrija ser tirkupra u li għandha l-potenzjal li tkompli tikber.

Nixtieq intemm dan il-messaġ billi nirringrazzjak talfiduċja tiegħek f’Malta International Airport plc u talappoġġ tiegħek sabiex stajna naslu f’dan il-punt kritiku tal-vjaġġ tagħna b’determinazzjoni sħiħa li naraw lillindustrija tiffjorixxi mill-ġdid.

Il-MessaġġTas-CEO

Bħala operaturi fit-turiżmu u l-avjazzjoni, min-naħa l-oħra, dan it-taqlib fakkarna fir-responsabbiltà kbira li għandha kull persuna li taħdem fi ħdan industrija tant importanti għall-ekonomija tal-pajjiż. Bħala Kumpanija nemmnu li, din ir-responsabbiltà, nistgħu nerfgħuha parzjalment billi nkomplu ninvestu fl-infrastruttura tat-terminal u tal-mitjar tagħna, sabiex eventwalment inkunu nistgħu nerġgħu nibdew nimmiraw lejn it-tkabbir, filwaqt li nkomplu nagħtu servizz ta’ ħames stilel lil kull passiġġier.

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Matul is-snin, l-investiment fit-terminal qatt ma naqas. Minn binja li oriġinarjament kienet maħsuba sabiex eventwalment tkun tista’ tilqa’ 2.5 miljun passiġġier fis-sena, it-terminal tant evolva li, fl-2019 biss, għaddew minnu rekord ta’ 7.3 miljun passiġġier, li minnhom madwar 2.7 miljun kienu turisti.

Bit-tifqigħa tal-COVID-19, dawn in-numri naqsu drastikament u fis-sena 2021 spiċċjana sabiex ilqajna l-istess numru ta’ passiġġieri li kien fil-mira fid-disgħinijiet: 2.5 miljun.

MIA Link March 2022 Issue No. 25

Meta tqis dawn il-ħafna benefiċċji li jġib miegħu l-ivvjaġġar, u l-fatt li l-konnettività bl-ajru hija aktar kruċjali għallgżejjer milli għal pajjiżi li għandhom il-ġirien, tifhem l-għaliex l-inawgurazzjoni ta’ terminal ġdid 30 sena ilu kien mument importanti għall-pajjiż kollu. Bil-ftuħ tal-bibien tat-terminal fi Frar 1992, infetħu beraħ ukoll il-bibien metaforiċi ta’ Malta fuq il-bqija tad-dinja. F’dawn l-aħħar 20 sena biss, is-swali tat-terminal tagħna raw il-bidu u t-tmiem ta’ aktar minn 75 miljun vjaġġ.

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The traffic round-up for 2021

Passenger Traffic

A SLOW FIRST HALF, FOLLOWED

BY A STRONG THIRD QUARTER: THE TRAFFIC ROUND-UP FOR 2021

Data released by Airports Council International Europe revealed that October was a good month for a number of other European airports too, with airports in Greece, Cyprus, Portugal and Spain posting the highest traffic recovery rates compared to pre-pandemic levels. October’s positive results can be attributed to a delayed peak in demand for leisure travel, which is generally experienced in August, spurred by the easing of travel restrictions across Europe as the year wore on.

Air travel to and from Malta only started to gain momentum after a very slow first half as stability increased and consumer confidence gradually improved, particularly with the introduction of the EU Digital COVID Certificate.

Passengers through Malta International Airport for the third quarter of 2021, in fact, increased threefold over the previous quarter. This positive trend extended into the beginning of the fourth quarter, with October registering more than 428,000 passenger movements and becoming the airport’s best-performing month for 2021.

Malta International Airport welcomed 2.5 million passengers in 2021. While this full-year traffic result translated into an increase of 45.3% over 2020 figures, it marked a recovery of just 34.8% of 2019 passenger numbers. On an international level, hopes for a much better year than 2020 did not materialise either, with the European airport network represented by Airports Council International reporting a cumulative loss of around 1.4 billion passengers compared to pre-pandemic levels. Despite the challenges and uncertainty that continued to shackle the industry’s recovery, Malta International Airport succeeded in retaining more than 70% of the connections the Maltese Islands had enjoyed prior to the outbreak of COVID-19 and secured a number of new developments for summer 2021.

% Change 2021/20 2021/19

-90.7% -89.4%

-93.5% -92.3%

-81.1% -93.3%

JAN

FEB

MAR

1562.1% -94.0%

The emergence of a new virus strain in November 2021 and the subsequent introduction of more stringent travel restrictions across Europe dealt a new blow to consumer confidence. This factor, together with the element of seasonality, led Malta International Airport to close the year with just over 254,000 passenger movements in December, marking a drop of almost 47% over the same month in 2019. This drop was slightly higher than the average drop posted by the European airport network of 43.7%.

2347.9% -88.8%

5590.1% -73.6%

104.0% -61.0%

61.7% -50.5%

MAY

JUN

JUL

AUG

500,000

375,000

325,000 250,000

MIA Link March 2022 Issue No. 25

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The traffic round-up for 2021

400,000

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200,000 125,000

50,000

0

APR

Top Markets Changing travel restrictions contributed to a different market share throughout 2021. The first half of the year was marked by an absence of the United Kingdom from Malta International Airport’s market leaderboard. Following the easing of travel restrictions between the United Kingdom and Malta, which led to the increase of flight frequencies on several UK routes and the introduction of new flights by a number of carriers, the United Kingdom once again ranked among Malta International Airport’s top markets in July 2021. August saw the resilient market continue to recover at a stronger-than-envisaged pace; with almost 100,000 passenger movements registered, the United Kingdom outperformed Italy, relegating this market to second place.

Malta International Airport’s top two markets for 2021 were Italy and the United Kingdom, each of which enjoyed a 19% market share, followed by Germany (12%), France (9%) and Poland (6%). From among these top five markets, France and Poland registered the strongest recovery rates (vs. 2019) of 53.2% and 62.0% respectively.

Italy

Q1

Germany

Q2

Turkey France

Q3

Quarter 1 2022 and the Upcoming Summer Season The repercussions of the aforementioned restrictions that were introduced towards the end of 2021 have had an impact on traffic for the first quarter of the year. More than 1,000 flights that were scheduled to depart from Malta in the first quarter of 2022 were cancelled in the wake of the announcement of these restrictions, which heightened instability and eroded consumer confidence. Passenger traffic for January 2022 amounted to just 159,357 movements.

While this result constituted a marked improvement over the previous year, it was 61.9% below pre-pandemic (2020) passenger numbers.

Despite the slow start to the year, February saw important source markets ease their travel restrictions. These welcome developments, together with the expected return of Transavia France from Paris-Orly, the expected resumption of cruise and fly operations, and new routes operated by Ryanair, Jet2 and Wizz Air, augur well for the upcoming summer season. The summer months are, however, envisaged to be characterised by fiercer competition among similar destinations, particularly as vaccination coverage across Europe continues to increase. (continued on page 8)

Bulgaria Poland

Q4

UK

Malta International Airport’s market share by quarter

288.3% -39.1%

692.4% -35.9%

447.7% -46.7%

2021 2.54Mln

2020 1.75Mln SEP

OCT

NOV

DEC

Full Year

MIA Link March 2022 Issue No. 25

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2019 7.31Mln

The traffic round-up for 2021

225.2% -45.1%

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BIDU KAJMAN GĦAS-SENA SEGWIT MINN PRESTAZZJONI B’SAĦĦITHA FIT-TIELET KWART:

Rapport tat-Traffiku Dettaljat għall-2021 Fl-2021 l-Ajruport Internazzjonali ta’ Malta laqa’ 2.5 miljun passiġġier. Filwaqt li dan ir-riżultat sarraf f’titjib ta’ 45.3% fuq l-2020, meta jitqabbel mal-2019 jindika li ġew irkuprati biss 34.8% tal-passiġġieri għal dik is-sena. Ħarsa lejn l-istampa usa’ turi li n-netwerk ta’ ajruporti Ewropej irrappreżentati minn Airports Council International irrapporta telf kumulattiv ta’ madwar 1.4 biljun passiġġier, meta kkumparat maċ-ċifri rrappurtati qabel il-pandemija. Minkejja l-isfidi u l-inċertezzi li komplew jiddominaw matul is-sena li għaddiet, l-Ajruport Internazzjonali ta’ Malta rnexxielu jżomm aktar minn 70% tal-konnessjonijiet li kellu qabel faqqgħet il-pandemija u attira wkoll numru ta’ linji tal-ajru ġodda bħala parti mill-iskeda tas-sajf 2021.

Movimenti tal-Passiġġieri

MIA Link March 2022 Issue No. 25

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Rapport tat-Traffiku Dettaljat għall-2021

Il-bidu tal-2021 kien wieħed kajman, iżda hekk kif skorra nofs is-sena, bdew jiġu nnutati xejriet pożittivi fir-rigward tal-ivvjaġġar bl-ajru minn u lejn Malta. Dan irriżulta minn stabbiltà miżjuda u kunfidenza tal-konsumatur imsaħħa, partikolarment bl-introduzzjoni taċ-Ċertifikat Diġitali talCOVID tal-UE. Il-movimenti tal-passiġġieri għat-tielet kwart tal-2021, fil-fatt, żdiedu b’aktar mit-triplu ta’ dak li ġie rrappurtat fit-tliet xhur ta’ qabel. Ir-raba’ kwart tal-2021 ukoll beda fuq nota b’saħħitha, b’Ottubru jirreġistra aktar minn 428,000 moviment tal-passiġġieri biex b’hekk kien l-aqwa xahar tal-ajruport għas-sena li għaddiet.

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Data maħruġa minn Airports Council International Europe żvelat li Ottubru kien xahar tajjeb għal għadd ta’ ajruporti Ewropej oħrajn, bl-ajruporti fil-Greċja, Ċipru, il-Portugall u Spanja jirrappurtaw l-aktar rati ta’ rkupru b’saħħithom tagħhom meta mqabblin mal-2019. Ir-riżultati pożittivi ta’ Ottubru jistgħu jiġu attribwiti għall-fatt li d-domanda għall-ivvjaġġar, li ġeneralment tilħaq il-quċċata tagħha f’Awwissu, splodiet aktar tard mis-soltu, hekk kif bosta restrizzjonijiet bdew jitneħħew matul is-sena.

F’Novembru 2021 feġġ varjant ġdid u, għal darba oħra, diversi pajjiżi Ewropej biddlu r-restrizzjonijiet tal-ivvjaġġar tagħhom. Dan, flimkien ma’ element ta’ staġjonalità, wassal lill-Ajruport Internazzjonali ta’ Malta sabiex jagħlaq is-sena bi ftit aktar minn 254,000 passiġġier għax-xahar ta’ Diċembru; jiġifieri tnaqqis ta’ kważi 47% fuq Diċembru 2019.

Dan il-persentaġġ ta’ tnaqqis kien kemxejn ogħla mir-rata ta’ tnaqqis medja rrappurtata min-netwerk tal-ajruporti Ewropej għal dan ix-xahar ta’ 43.7%.

L-Aqwa Swieq Ir-restrizzjonijiet fuq l-ivvjaġġar li komplew jinbidlu matul issena kellhom ukoll effett fuq l-aqwa swieq tal-ajruport. Flewwel nofs tas-sena, ir-Renju Unit ma klassifikax mal-aqwa swieq tal-Ajruport Internazzjonali ta’ Malta. Ir-rilassament ta’ ċerti restrizzjonijiet fuq l-ivvjaġġar bejn ir-Renju Unit u Malta wassal għal żieda fil-frekwenzi ta’ ċerti titjiriet bejn iż-żewġ pajjiżi u l-introduzzjoni ta’ titjiriet ġodda. Dawn

l-iżviluppi għenu lir-Renju Unit jerġa’ jsib postu mas-swieq bl-aqwa prestazzjonijiet f’Lulju 2021. F’Awwissu dan issuq tant reżiljenti kompla jirkupra b’pass mgħaġġel ħafna aktar milli mistenni, tant li, bi kważi 100,000 moviment talpassiġġieri, kellu l-aqwa prestazzjoni għax-xahar li tefgħet lis-suq Taljan fit-tieni post.

L-aktar żewġt iswieq popolari fl-2021 kienu l-Italja u r-Renju Unit, li kellhom sehem mis-suq ta’ 19% kull wieħed, segwiti mill-Ġermanja (12%), Franza (9%) u l-Polonja (6%). Minn fost l-aqwa ħamest iswieq, Franza u l-Polonja kellhom l-aktar rati ta’ rkupru b’saħħithom (meta mqabblin mal-2019) ta’ 53.2% u 62.0% rispettivament

L-Ewwel Kwart tas-Sena l-Ġdida u l-Istaġun tas-Sajf 2022 Ir-riperkussjonijiet tar-restrizzjonijiet li ssemmew aktar kmieni u li ddaħħlu lejn l-aħħar tal-2021 baqgħu jinħassu anki fl-ewwel kwart tal-2022. ‘Il fuq minn 1,000 titjira li kienu skedati li joperaw mill-Ajruport Internazzjonali ta’ Malta fil-bidu tas-sena l-ġdida ġew ikkanċellati wara li tħabbru dawn ir-restrizzjonijiet, li għal darba oħra żiedu l-instabbiltà u naqqru l-fiduċja tal-konsumatur. It-traffiku għal Jannar 2022 ammonta għal biss 159,357 moviment tal-passiġġieri.

Filwaqt li dan ir-riżultat wera titjib kunsiderevoli fuq is-sena ta’ qabel, dan kien 61.9% taħt il-livelli milħuqin qabel ilpandemija fl-2020.

Minkejja li s-sena bdiet fuq nota kwieta, fi Frar rajna swieq importanti għall-Ajruport Internazzjonali ta’ Malta jħabbru t-tneħħija ta’ xi restrizzjonijiet fuq l-ivvjaġġar. Dawn l-aħbarijiet pożittivi, flimkien ma’ għadd ta’ żviluppi tattraffiku għas-sajf 2022 min-naħa ta’ Ryanair, Jet2 u Wizz Air, ir-ritorn mistenni ta’ Transavia France mill-ajruport ta’ Orly f’Pariġi, u l-bidu mill-ġdid tal-programm cruise and fly, jawguraw tajjeb għall-istaġun li ġej. Ix-xhur tassajf, madankollu, huma mistennijin li jkunu kkaratterizzati minn kompetizzjoni qalila bejn destinazzjonijiet simili, partikolarment hekk kif ir-rati ta’ tilqim madwar l-Ewropa jkomplu jiżdiedu.

Tucked in the south-west of Malta, a short drive away from Malta International Airport, is the village of Żurrieq. At its core, the present church dedicated to Saint Catherine of Alexandria has watched over the village and its inhabitants for five centuries. In its shade, members of the older generation while away the time and dutifully size up any newcomers before eventually welcoming them with a hearty ‘Bonġornu’.

recognise the distinguishable hand of Baroque master Mattia Preti (1613–1699) in the titular altarpiece The Martyrdom of Saint Catherine of Alexandria. This painting is considered to be one of Il Cavaliere Calbrese’s – as was his moniker - masterpieces from among an oeuvre of some 300 works executed during his 40-year stay on the Maltese Islands.

The Żurrieq parish church is a veritable trove of art and precious artefacts, and its intricate architecture earned it protection as a Grade 1 monument in 2011. Upon stepping inside the ornate church, the trained eye may immediately

A look around the church quickly reveals that this is not the only work of art by the illustrious artist to adorn the place of worship. The Żurrieq church, in fact, boasts seven Mattia Preti paintings.

The Malta Airport Foundation supportsthe restoration and conservation of a 345-year-old painting by Mattia Preti

345-year-old painting

by Mattia Preti

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THE MALTA AIRPORT FOUNDATION SUPPORTS THE RESTORATION AND CONSERVATION OF A

MIA Link March 2022 Issue No. 25

The titular painting at the Żurrieq Parish Church executed by Mattia Preti.

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One of the parish’s Preti paintings, whose subject is the plague, is currently not on display as it is undergoing conservation and restoration with the support of the Malta Airport Foundation. Saints Roque, Blaise, Dominic and Nicholas of Tolentino interceding for the plague stricken was painted by Mattia Preti at the height of the plague outbreak that ravaged the Maltese Islands in 1676. Measuring almost four metres high and more than two metres wide, the imposing painting that depicts the eponymous four saints together with other figures, underwent a number of interventions over the years that concealed Mattia Preti’s hand and unique artistic technique in some parts. Through the current intervention, which is being carried out by a team of three paintings conservators, the aim is to recover as much as possible of Mattia Preti’s original paint layer, and return the painting to its rightful place inside the church by the third quarter of 2022.

Il-Malta Airport Foundation tagħti ħajja ġdida lil pittura ta’ Mattia Preti FIL-KNISJA TAŻ-ŻURRIEQ PERMEZZ TA’ PROĠETT TA’ RESTAWR U KONSERVAZZJONI Il-proġett li qiegħda tappoġġja bħalissa l-Malta Airport Foundation jeħodna firraħal taż-Żurrieq, proprju fil-knisja parrokkjali li hija ddedikata lil Santa Katerina ta’ Lixandra. Il-binja preżenti ilha tħares fuq ir-raħal għal dawn l-aħħar ħames sekli, u għad-dell tagħha, f’kull ħin tal-jum, jintasbu bosta Żrieraq xi ftit akbar fl-età sabiex jgħidu kelma u jaraw il-ħajja għaddejja.

But there is more to a painting than meets the eye. The team of conservators spent around three months working on the treatment of the verso of this work of art; a process that was completed when a new canvas was adhered to the original canvas in order to provide the huge painting with the right amount of stability and strength.

MIA Link March 2022 Issue No. 25

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Il-Malta Airport Foundation tagħti ħajja ġdida lil pittura ta’ Mattia Preti fil-knisja taż-Żurrieq permezz ta’ proġett ta’ restawr u konservazzjoni

It is not uncommon to find a Preti in a Maltese church, with churches in Ħal Luqa, Vittoriosa, Sliema and Ħal Lija, to name a few, all displaying artwork by the artist. However, the significant number of Preti paintings found at the Żurrieq parish church could be explained by the fact that the artist took up residence in this village, where he sought refuge from the plague after moving from Valletta.

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Another important part of this process is the thorough written and photographic documentation of the painting’s manufacturing technique, state of conservation, and past interventions, with the aim to leave as much textual and visual information as possible for posterity.

Paintings conservator Sephora Borg working on the painstaking process of adhering a new canvas to the original one.

Jekk wieħed jifli sew il-kwadri l-oħrajn li jinsabu fil-knisja, x’aktarx jinnota li din mhijiex l-unika biċċa arti li ssawret minn id l-artist tant magħruf. Il-knisja ta’ Santa Katerina ta’ Lixandra hija mgħonija b’xejn anqas minn seba’ xogħlijiet ta’ Mattia Preti. Mhix xi ħaġa kbira li tidħol fi knisja f’Malta u ssib biċċa xogħol ta’ Preti, hekk kif tista’ ssib f’Ħal Luqa, il-Birgu, tas-Sliema u Ħal Lija, biex insemmu ftit eżempji.

Madankollu, in-numru sinifikanti ta’ xogħlijiet ta’ dan l-artist li jinsabu fil-knisja ta’ Santa Katerina jista’ forsi jiġi spjegat mill-fatt li Mattia Preti għex u ħadem għal diversi snin fir-raħal taż-Żurrieq, fejn fittex refuġju mill-pesta wara li telaq mill-Belt Valletta.

Wieħed mill-kwadri ta’ Preti, li ġie eżegwit fl-eqqel ta’ tifqigħa tal-pesta f’Malta fl-1676, bħalissa ma jinsabx imdendel fis-soltu post tiegħu fuq in-naħa tal-lemin tal-knsija ta’ Santa Katerina. Il-pittura Santu Rokku, San Bjaġju, San Duminku u San Nikola ta’ Tolentino jinterċiedu għal dawk milqutin mill-pesta bħalissa qed isirilha intervent

ta’ restawr u konservazzjoni bl-appoġġ tal-Malta Airport Foundation. B’għoli ta’ kważi erba’ metri u wisa’ ta’ aktar minn żewġ metri, din il-pittura imponenti, li turi lil erba’ qaddisin u għadd ta’ figuri oħrajn, sarulha diversi interventi matul is-snin li, sfortunatament, għattew il-ħila u t-teknika artistika unika ta’ Preti. L-intervent li qiegħed isir bħalissa minn tim ta’ tliet konservaturi tal-pitturi huwa mmirat li jirkupra kemm jista’ jkun ix-xogħol oriġinali ta’ Mattia Preti, biex b’hekk il-kwadru u l-ħila tiegħu jkunu jistgħu jerġgħu jibdew jitgawdew mill-ġdid aktar tard din is-sena.

Iżda l-proċess ta’ restawr u konservazzjoni jmur lil hinn minn dak li tara l-għajn. Fil-fatt, it-tim ilu għal dawn l-aħħar xhur jaħdem fuq il-kanvas min-naħa ta’ wara tal-pittura.

Għalkemm ma jidhirx, huwa essenzjali li dan jingħata l-attenzjoni meħtieġa, minħabba li jipprovdi l-istabbiltà u s-saħħa li għandu bżonn kwadru ta’ dawn id-dimesjonijiet.

Barra minn hekk, it-tim qiegħed jiddokumenta bir-reqqa l-proċess kollu permezz tal-kitba u r-ritratti sabiex titħalla biżżejjed informazzjoni testwali u viżiva lil konservaturi u riċerkaturi futuri.

| Il-Malta Airport Foundation tagħti ħajja ġdida lil pittura ta’ Mattia Preti fil-knisja taż-Żurrieq permezz ta’ proġett ta’ restawr u konservazzjoni

Fl-2011 il-knisja kienet waħda mill-binjiet li ngħataw protezzjoni mill-iżvilupp minħabba l-arkitettura elaborata u prestiġjuża tagħha. Din il-knisja hija mżejna b’ħafna rikkezzi u għadd ta’ xogħlijiet ta’ arti, fosthom ta’ Mattia Preti (1613–1699). Il-kwadru titulari tal-knisja, il-Martirju ta’ Santa Katerina ta’ Lixandra, huwa kkunsidrat fost l-aqwa xogħlijiet - li b’kollox ilaħħqu mat-300 - li eżegwixxa Mattia Preti matul l-40 sena li qatta’ f’Malta.

MIA Link March 2022 Issue No. 25

Paintings conservator Jeanelle Lentini intent on completing another important part of the conservation and restoration process.

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MALTA INTERNATIONAL AIRPORT RECEIVES THE

‘autism friendly spaces’ accreditation One of Malta International Airport’s priorities is to ensure that all airport guests enjoy a safe and pleasant experience, as they make their way from check-in through to the gates. This priority, together with a growing awareness of how stressful airport environments can be for persons with autism, spurred the airport on to create and trial the Journey Facilitation Programme back in 2018.

MIA Link March 2022 Issue No. 25

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Malta International Airport receives the ‘autism friendly spaces’ accreditation

The instant feedback received in response to the soft launch showed that this programme was a game-changer for families to whom the idea of travelling may have seemed too daunting to even consider before. Over the past three years, the airport’s trained front-liners have delivered more than 500 facilitation services to travelling families. A frequent user of the service, Audrey Komrij Jones, explained to MIA Link how the Journey Facilitation Programme has completely changed the way her family experiences holidays and air travel.

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Audrey, whose young daughter is on the spectrum, travels quite frequently to visit family members living abroad. She described the wait at check-in, at security and again to board the plane, as well as airport crowds, as having been sources of great distress and suffering for her daughter prior to 2018, leading to Audrey feeling dread, rather than excitement, at the mere thought of an upcoming trip. This changed drastically with the introduction of the Journey Facilitation Programme, which provides persons with autism and accompanying travellers with assistance in getting ready for check-in, a fast track through the Central Security Area and access to a quiet space amid the airport bustle.

Following the recent external assessment of the Journey Facilitation Programme to ensure that it is aligned with international autism-friendly recommendations for the air travel industry, Malta International Airport became one of the first Maltese establishments to receive the ‘Autism Friendly Spaces’ quality label. This label was created within a wider programme, which is managed by local NGO Prisms, the Commission for the Rights of Persons with Disability (CRPD), Autism Europe and a number of other entities, with the aim to support organisations and companies in making places and everyday experiences more accessible, particularly from a sensory aspect, to persons with autism.

The backbone of the Journey Facilitation Programme are the people who have ensured its success; Malta International Airport’s front-liners, who have all received sensitivity training.

The extra care and attention these front-liners put into their interactions with persons who book the service, quickly put Malta International Airport on Audrey’s daughter’s list of favourite places on the island, as what had once been an ordeal turned into an exciting adventure.

When asked how Malta International Airport compares to other airports the family frequently travels through, Audrey noted with palpable disappointment that the start of the family’s journeys back to Malta from France, the Netherlands and Luxembourg, are still distressing as no assistance is available to persons with autism. However, Audrey is grateful that, in Malta, the family can bank on boarding the plane feeling relaxed and in proper holiday mode thanks to the Journey Facilitation Service and the people who deliver it.

To learn more about Malta International Airport’s Journey Facilitation Programme, you may visit maltairport.com.

L-AJRUPORT INTERNAZZJONALI TA’ MALTA JINGĦATA

t-tikketta ta’ kwalità ‘autism friendly spaces’

Is-sinsla tal-Programm tal-Iffaċilitar tal-Vjaġġ huma l-persuni warajh; il-front-liners tal-Ajruport Internazzjonali ta’ Malta, li kollha tħarrġu apposta biex ikunu jistgħu jwasslu dan is-servizz tant importanti. Id-dedikazzjoni u l-professjonalità li biha jinteraġixxu dawn il-front-liners ma’ persuni bl-awtiżmu waqt il-vjaġġ tagħhom malajr wasslu lil bint Audrey biex tiddikjara li l-Ajruport Internazzjonali ta’ Malta huwa wieħed mill-postijiet favoriti tagħha, hekk kif l-ajruport inbidel minn post ta’ esperjenzi stressanti għal wieħed fejn jibdew avventuri ġodda.

Meta staqsejna lil Audrey kif jikkumpara l-Ajruport Internazzjonali ta’ Malta ma’ ajruporti li spiss ittir minnhom ilfamilja, hija kkumentat b’diżappunt li l-vjaġġ tagħhom lura lejn Malta minn Franza, il-Lussemburgu u n-Netherlands, għadu sors ta’ ansjetà minħabba li ma teżistix għajnuna apposta għal persuni bl-awtiżmu. Madankollu, Audrey għalqet fuq nota pożittiva, hekk kif qalet li f’Malta għandha s-serħan il-moħħ li dejjem tista’ titla’ fuq l-ajruplan irrilassata u lesta għall-btala li jmiss mal-familja, grazzi għas-Servizz tal-Iffaċilitar tal-Vjaġġ u l-persuni ddedikati li jipprovduh.

Tista’ ssib aktar tagħrif dwar il-Programm tal-Iffaċilitar tal-Vjaġġ tal-Ajruport Internazzjonali ta’ Malta fuq maltairport.com.

L-Ajruport Internazzjonali ta’ Malta jingħata t-tikketta ta’ kwalità ‘autism friendly spaces’

Audrey, li hija omm ta’ tifla bl-awtiżmu, tivvjaġġa ta’ spiss biex iżżur lill-familja tar-raġel. Hija ddeskriviet l-istennija biex wieħed jagħmel check-in, jgħaddi miż-żona tas-

Il-Programm tal-Iffaċilitar tal-Vjaġġ reċentement ġie evalwat minn tim estern sabiex jiġi aċċertat li huwa konformi ma’ rakkomandazzjonijiet speċifiċi sabiex l-industrija talivvjaġġar bl-ajru tkun aktar inklussiva għal persuni fuq l-ispettru tal-awtiżmu. Wara li saret din l-evalwazzjoni, l-Ajruport Internazzjonali ta’ Malta ngħata t-tikketta ta’ kwalità ‘Autism Friendly Spaces’, li nħolqot fi ħdan programm usa’ li huwa mmexxi mill-NGO lokali Prisms, il-Kummissjoni għad-Drittijiet ta’ Persuni b’Diżabilità (CRPD), Autism Europe u entitajiet oħrajn, bil-għan li organizzazzjonijiet lokali jingħataw l-appoġġ meħtieġ sabiex jagħmlu spazji u esperjenzi ta’ kuljum aktar aċċessibbli għal persuni fuq l-ispettru tal-awtiżmu.

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Ir-rispons immedjat li beda jirċievi l-ajruport hekk kif tnieda dan il-programm wera biċ-ċar li s-servizz għamel differenza kbira lil familji li qabel lanqas biss kienu joħolmu li jsiefru. Tul dawn l-aħħar tliet snin, il-front-liners tal-ajruport wasslu aktar minn 500 servizz ta’ ffaċilitar tal-vjaġġ lil familji li talbu li jingħataw aktar għajnuna matul il-vjaġġ tagħhom.

Persuna li spiss tuża dan is-servizz, Audrey Komrij Jones, spjegat lil MIA Link kif il-Programm tal-Iffaċilitar tal-Vjaġġ qaleb mil-lejl għan-nhar il-mod ta’ kif hi, żewġha u bintha jesperjenzaw il-vaganzi u l-ivvjaġġar.

sigurtà u sabiex jirkeb l-ajruplan bħala sors ta’ frustrazzjoni u tbatija kbira għal bintha. Minħabba f’hekk il-ħsieb li jkun wasal vjaġġ ieħor kien jimla lil Audrey b’ħafna ansjetà, minflok bl-eċċitament li ġeneralment iġib miegħu s-safar.

Iżda dan kollu nbidel meta l-familja bdiet tuża s-Servizz tal-Iffaċilitar tal-Vjaġġ, li jipprovdi l-għajnuna meħtieġa lil persuni bl-awtiżmu u persuni li jkunu qegħdin jivvjaġġaw magħhom sabiex jippreparaw għaċ-check-in, kif ukoll jagħtihom aċċess għal rotta mqassra miż-żona tas-sigurtà u għal spazju kwiet ‘il bogħod mill-attività tal-ajruport.

MIA Link March 2022 Issue No. 25

Waħda mill-prijoritajiet tal-Ajruport Internazzjonali ta’ Malta hija li kull passiġġier ikollu l-aqwa esperjenza fl-ajruport, missala taċ-check-in sakemm jasal biex jirkeb l-ajruplan. Din il-prijorità, flimkien ma’ għarfien aħjar dwar kemm l-ambjent ta’ ajruport jista’ joħloq tensjoni għal persuni bl-awtiżmu, wasslet lill-Ajruport Internazzjonali ta’ Malta sabiex lura fl2018 nieda bi prova l-Programm tal-Iffaċilitar tal-Vjaġġ.

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Rediscovering the sweet side of life

MIA Link March 2022 Issue No. 25

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Rediscovering the sweet side of life with Sunday in Scotland

WITH SUNDAY IN SCOTLAND

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The chocolate boutique Sunday in Scotland is the newest addition to Malta International Airport’s outlets. Despite its quite humble size, it is a delightful nook of sweetness and artistry, tucked away at a side of the Check-in Hall. Art deco elements, striking blues and magnificent chocolate Maltese falcons perched on high shelves give Sunday in Scotland a dreamy ambiance that slows down the time, allowing patrons to properly savour the high-quality ingredients used in crafting the outlet’s decadent chocolate.

Everything about Sunday in Scotland - from its artistic décor to the sinful pastries on display - entices you to step inside; sit at one of the few tables available; and treat yourself to something sweet washed down by a cup of mighty good coffee. The smell that wafts from the viennoiserie counter is too heavenly to resist particularly in the morning. Whether you give in to a signature almond-crusted croissant or a slice of chocolate praline Panqué; a cake that was popular in the 80s and has been revived locally by Sunday in Scotland’s founder Amer Wahoud, you almost certainly will not be disappointed. The items on the viennoiserie menu are freshly prepared and baked every day at Sunday in Scotland’s factory in Fgura while most people are still in the land of nod.

All of Sunday in Scotland’s chocolate bars and blocks are also carefully crafted here, where the focus is on the use of high-quality raw materials and a low sugar content to produce sumptuous chocolate with an affordable price

tag. An array of milk, white and dark chocolate, having varying levels of cocoa content that goes up to 100%, beckon on the shelves of the outlet, but one of the all-time best sellers remains the HAZELNUTCRUNCH. These bitesize yet immensely satisfying chocolate creations have a luxurious marzipan, passion fruit or fudge liquor filling mixed with crunchy praline to satisfy different tastes, and can be purchased in four-piece or twelve-piece gift boxes.

Sunday in Scotland’s wares are packed using fully recyclable materials in line with the brand’s eco-centric philosophy.

Incidentally, the slim packaging used for most items also makes Sunday in Scotland’s chocolates, all of which proudly display the ‘Made in Malta’ label, ideal for purchasing as a gift that takes up very little room in one’s hand luggage, but packs a definite punch.

Sunday in Scotland’s creator strongly believes that chocolate is a necessity rather than a luxury, and that the health and mood-enhancing benefits of the cocoa bean should be enjoyed by everyone. If you beg to differ and believe that you can very well live without chocolate, a bite into Sunday in Scotland’s melt-in-your-mouth creations might just change your mind. Sunday in Scotland has sweetened this issue with an exclusive shareholders’ offer, which is found on the back-page of this newsletter.

SUNDAY IN SCOTLAND

jintroduċi ċ-ċikkulata lussuża tiegħu FL-AJRUPORT INTERNAZZJONALI TA’ MALTA

Il-ħanut taċ-ċikkulata u l-ħlewwiet Sunday in Scotland reċentement fetaħ il-bibien tiegħu fl-Ajruport Internazzjonali ta’ Malta.

Għalkemm il-ħanut mhuwiex kbir, l-għażla ta’ ċikkulata mhux kummerċjali ppreżentata bl-aktar mod artistiku, żgur li tinżel għasel ma’ dawk li jħobbu l-ħlewwiet. L-istil art deco u leħħiet ta’ blu joħolqu ambjent ħalliemi fil-ħanut, li bħal donnu jwaqqaf il-minutieri tal-arloġġ sabiex kull min jgħaddi jieħu xi ħaġa tassew igawdi l-ingredjenti tal-ogħla kwalità li jintużaw fil-prodotti ta’ Sunday in Scotland.

Il-fundatur ta’ Sunday in Scotland jemmen bi sħiħ li ċ-ċikkulata hija bżonn mhux lussu, u li kulħadd għandu jgawdi l-benefiċċji relatati mas-saħħa u l-umur li jingħad li għandu l-kawkaw. Jekk forsi ma taqbilx ma’ Amer u temmen

Sunday in Scotland jintroduċi ċ-ċikkulata lussuża tiegħu

Barra ċ-ċikkulata, il-kumpanija Sunday in Scotland għandha għal qalbha ħafna l-ambjent, u tagħmel kull sforz sabiex ilmaterjal li tuża biex tippakkja l-prodotti jkun riċiklabbli. Ilpakketti u l-kaxxi kumpatti li fihom jiġu ppakkjati l-prodotti huma ideali wkoll għal min ikun qiegħed ifittex rigal żgħir għal xi ħadd li jkun se jżur barra minn Malta, għax ma jiħdux ħafna spazju iżda jaqtgħu figura tajba. Il-prodotti kollha ta’ Sunday in Scotland iġorru t-tiketta ‘Made in Malta’, li żgur tkompli tiddistingwihom miċ-ċikkulata kummerċjali.

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Iċ-ċikkulata kollha li tinbiegħ fil-ħanut, fil-fatt, tiġi mmanifatturata f’din il-fabbrika, fejn ingredjenti talogħla kwalità u kontenut ta’ zokkor baxx jintużaw fit-tiswir ta’ ċikkulata rikka bi prezz raġonevoli. Barra minn dawn l-ingredjenti, id-dedikazzjoni, l-enerġija u l-kreattività ma jonqsux fil-produzzjoni ta’ din iċ-ċikkulata. L-għażla ta’ ċikkulata bajda, tal-ħalib u skura, b’kontenut differenti ta’ kawkaw li jlaħħaq sa 100%, hija wiesgħa ħafna, iżda wieħed mill-aktar prodotti popolari jibqa’ l-HAZELNUTCRUNCH. Dawn il-kaxxi taċ-ċikkulata żgħar li għandhom mili differenti u taħlita tqarmeċ li minnha jieħdu isimhom, jistgħu jinxtraw f’kaxxi ta’ erba’ biċċiet jew 12-il biċċa sabiex jingħataw bħala rigal.

li tista’ tgħaddi mingħajr ċikkulata, il-prodotti ta’ Sunday in Scotland jaf ibiddlulek ħsiebek. Bħala azzjonist tista’ tuża l-kupun li jinsab fuq wara ta’ dan il-fuljett sabiex tingħata ċikkulata tal-għażla tiegħek b’xejn id-darba li jmiss li żżur il-ħanut ta’ Sunday in Scotland fl-ajruport.

MIA Link March 2022 Issue No. 25

Diffiċli tgħaddi minn quddiem Sunday in Scotland bla ma tieqaf biex tieħu xi ħaġa ħelwa u kikkra kafé kif imiss, hekk kif riħa taqsam il-qlub ta’ kejkijiet u ħlewwiet oħra timla l-arja. Sew jekk żaqqek taqa’ għal croissant b’kisja lewż u sew jekk tagħżel li tieħu biċċa Panqué taċ-ċikkulata u l-praline; kejk li kien popolari fis-snin tmenin u li reġa’ ngħata l-ħajja lokalment mill-fundatur ta’ Sunday in Scotland Amer Wahoud, żgur li mhux ser toħroġ iddiżappuntat. Ilħlewwiet u l-kejkijiet ta’ Sunday in Scotland jiġu ppreparati u moħmijin kull filgħodu fil-fabbrika tagħhom fil-Fgura qabel tbexbix il-jum.

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MALTA INTERNATIONAL AIRPORT PLC’S

Financial Performance For 2021 During a recent board meeting, Malta International Airport plc approved the Group’s financial statements for the year ended 31 December 2021, as well as a multi-million investment in the construction of a new apron. The Board of Directors also discussed and reached decisions in relation to several other matters.

Financial Results 2021

MIA Link March 2022 Issue No. 25

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Malta International Airport Plc’s Financial Performance For 2021

The year 2021 was once again dominated by COVID-19 and a series of knee-jerk reactions by governments across Europe to new virus variants and worsening epidemiological situations, slowing down the recovery of air travel across the continent.

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Malta International Airport ended 2021 by recovering just 34.8% of its pre-pandemic passenger numbers. Compared to 2020, on the other hand, the airport’s traffic result for 2021 marked an increase of 45.3% and contributed to a significantly improved financial performance registered by the Group during the year under review. At €47.4 million, however, the total revenue generated was 52.7% below prepandemic levels.

While revenue generated from the Group’s main streams remained well below the record levels reached in 2019, both streams registered stronger results during the year under review compared to 2020. The aviation segment grew by 55.7% and the non-aviation segment, which includes nonaviation concessions, the Company’s VIP products and car parking, grew at a slower rate of 36.9%.

Despite the fact that 2021 brought better prospects than the preceding year, the Company continued to exercise a cautious approach in relation to the management of its finances as uncertainty and instability limited its visibility of the way ahead. The Company was able to further lower its costs over 2020 in relation to marketing (-33.3%), staff (-21.7%) and maintenance and repairs (-9.5%) by focusing strictly on essential works, legally required employee training and necessary recruitment, whilst benefitting from the COVID-19 Wage Supplement. Savings from these three areas alone amounted to €3.4 million for the year under review.

Marketing Costs -33.3%

€2.8 million

2021 2020

€4.1 million

Staff Salaries & Allowances -21.7%

€6.7 million

2021 2020

€8.6 million

Maintenance & Repairs €1.5 million

-9.5%

2020

€1.7 million

3.4M

2021

Savings from these 3 areas

The Company’s cost-cutting programme together with an increase in passenger traffic over 2020 led to an increase of €18.5 million in earnings before interest, taxation, depreciation and amortisation (EBITDA), in parallel with an improvement of 33.3 percentage points in EBITDA margin.

While the Group had registered a net loss of €4.3 million in 2020, Malta International Airport plc returned to the black in 2021 with a net profit of €7.0 million.

The Group’s full approved financial statements may be viewed on maltairport.com.

Approval of the Apron X investment The Board of Directors also gave the green light to an investment just shy of €40 million in the construction of a new apron covering an area of approximately 100,000 square metres. The construction of this apron – Apron X – will entail the largest investment in the aerodrome infrastructure since 1998, equipping Malta International Airport with the capacity to accommodate more parked aircraft at any given time and eventually aim to achieve further growth in passenger traffic.

Works on the project will commence in the coming weeks once the local Planning Authority grants the permit for this development. While the Company is eyeing the start of summer 2024 for the completion and utilisation of the first parking stands, the full project is expected to be concluded in 2026.

The Board of Directors announced that the Company’s 30th Annual General Meeting will be held on Wednesday 11 May 2022. The Company is currently monitoring developments in relation to rules governing gatherings and events, and will be communicating more details about the Annual General Meeting in due course. Shareholders on the register of members at the Central Securities Depository at close of business on Monday 11 April 2022 will be eligible to receive notice of, attend and vote at the next Annual General Meeting.

Malta International Airport Plc’s Financial Performance For 2021

harvesting and the installation of LED floodlighting systems.

Additionally, the project will provide for preparatory works for the electrification of parking stands, in line with Article 12 of the European Union’s plan to reduce greenhouse gas emissions Fit for 55, which will provide parked aircraft with access to an electricity supply rather than fuel.

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The Apron X project is also envisaged to support Malta Airport in honouring its environmental commitments through the construction of a 10,000 m3 reservoir for better rainwater

Having carefully analysed the Group’s accounts and external forces that are likely to continue affecting consumer confidence and air travel in the foreseeable future, the Board of Directors believes that, with an aim to safeguard the best interests of the Company as a whole and its stakeholders for the long term, it is not prudent to recommend the payment of dividend for the year ended 31 December 2021. The Board of Directors’ decision to continue exercising caution in relation to the management of the Group’s finances also stems from the slow start to 2022 in terms of passenger traffic.

MIA Link March 2022 Issue No. 25

Other Matters Moreover, the project will see the construction of a new taxiway, which will improve accessibility to the new apron, and the development of a staging area housing facilities for essential ground handling operations. These ancillary facilities will complement the main development in contributing to a smoother and more efficient operation on the ground.

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Il-Prestazzjoni Finanzjarja Għas-Sena 2021 TA’ MALTA INTERNATIONAL AIRPORT PLC Waqt laqgħa reċenti tal-Bord tad-Diretturi, il-Kumpanija approvat id-dikjarazzjonijiet finanzjarji tal-Grupp għas-sena li ntemmet fil-31 ta’ Diċembru 2021, kif ukoll il-proġett ta’ kostruzzjoni ta’ apron ġdid. Il-Bord tad-Diretturi ddiskuta u laħaq deċiżjoni dwar għadd ta’ punti important oħrajn.

Ir-Riżultati Finanzjari għas-Sena 2021

MIA Link March 2022 Issue No. 25

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Il-Prestazzjoni Finanzjarja Għas-Sena 2021 ta’ Malta International Airport Plc

Is-sena 2021 kienet, għal darba oħra, iddominata millCOVID-19 u serje ta’ reazzjonijiet min-naħa ta’ gvernijiet Ewropej għal varjanti ġodda tal-vajrus u sitwazzjonijiet epidemjoloġiċi li bdew jiggravaw fix-xitwa. Dan kollu xekkel l-irkupru tal-ivvjaġġar bl-ajru konsiderevolment filkontinent kollu.

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L-Ajruport Internazzjonali ta’ Malta spiċċa s-sena 2021 billi rkupra biss 34.8% tat-traffiku li ġġestixxa qabel ilpandemija. Meta mqabbel mal-2020, min-naħa l-oħra, ir-riżultat tat-traffiku għall-2021 immarka żieda ta’ 45.3% u kkontribwixxa għal prestazzjoni finanzjarja matul is-sena li għaddiet li kienet sinifikattivament aħjar minn ta’ qabilha.

Id-dħul totali li ġie ġġenerat matul is-sena li għaddiet, li ammonta għal €47.4 miljun, madankollu xorta kien 52.7% aktar baxx mil-livelli milħuqin qabel il-pandemija.

Filwaqt li d-dħul li ġie ġġenerat is-sena li għaddiet miżżewġ sorsi prinċipali tal-Grupp ukoll kien aktar baxx mirriżultati miksubin fl-2019, dawn iż-żewġ segmenti kellhom riżultati ħafna aktar b’saħħithom minn dawk irreġistrati fl2020. Is-segment tal-avjazzjoni rreġistra żieda ta’ 55.7% u s-segment tal-proprjetà u l-bejgħ, li jinkludi dħul minn kirjiet, mill-prodott VIP tal-Kumpanija u l-parkeġġ, kellu rata aktar baxxa ta’ tkabbir ta’ 36.9%.

Viżwal ta’ Apron X li juri l-konfigurazzjonijiet ta’ parkeġġ ta’ 7 ajruplani Code C u 3 Code E.

L-Approvazzjoni tal-Investiment f’Apron X Il-Bord tad-Diretturi approva wkoll investimenti ta’ kważi €40 miljun fil-kostruzzjoni ta’ apron ġdid fuq medda ta’ 100,000 metru kwadru. L-iżvilupp ta’ dan l-apron – Apron X – huwa l-akbar investiment fl-infrastruttura tal-ajrudrom sa mill-1998 ’l hawn, u ser jgħammar lill-Ajruport Internazzjonali ta’ Malta bi stands sabiex jiġu akkomodati aktar ajruplani pparkajti fl-istess ħin u jagħti lok għal aktar traffiku talpassiġġieri fil-futur.

Barra minn hekk, bħala parti mill-proġett ser tinbena taxiway ġdida, sabiex tiġi mtejba l-aċċessibbiltà għall-apron ilġdid, u ser jiġu żviluppati faċilitajiet li ser jintużaw millkumpaniji tal-ground handling. Dawn il-faċilitajiet anċillari ser jikkumplementaw l-iżvilupp prinċipali u jikkontribwixxu għal operazzjoni ħafna aktar effiċjenti.

Kwistjonijiet Oħrajn Wara analiżi bir-reqqa tal-finanzi tal-Grupp u kunsiderazzjoni tal-forzi esterni li x’aktarx ser ikomplu jaffettwaw il-kunfidenza tal-konsumatur u l-ivvjaġġar bl-ajru fil-futur immedjat, il-Bord tad-Diretturi jemmen li, bil-għan li jiġu mħarsa l-aħjar interessi tal-Kumpanija u tal-istakeholders tagħha għat-tul, ma għandux jiġi rrakkomandat il-ħlas ta’ dividend għas-sena li spiċċat fil-31 ta’ Diċembru 2021. Din id-deċiżjoni ġiet influwenzata wkoll mill-fatt li s-sena 2022 bdiet b’riżultati tat-traffiku kemxejn batuti.

Il-Bord tad-Diretturi ħabbar ukoll li t-30 Laqgħa Annwali Ġenerali tal-Kumpanija ser issir nhar l-Erbgħa 11 ta’ Mejju 2022. Il-Kumpanija qiegħda timmonitorja l-iżviluppi firrigward tal-avvenimenti tal-massa u ser tkun qiegħda tikkomunika aktar informazzjoni dwar il-Laqgħa Annwali Ġenerali aktar ’il quddiem. L-azzjonisti li jkunu mniżżlin fuq ir-reġistru tal-membri fuq il-Borża ta’ Malta fi tmiem il-jum tat-Tnejn 11 ta’ April 2022 ikunu eliġibbli li jirċievu l-avviż, jattendu u jivvutaw fil-Laqgħa Annwali Ġenerali li jmiss.

Il-Prestazzjoni Finanzjarja Għas-Sena 2021 ta’ Malta International Airport Plc

Għal informazzjoni aktar iddettaljat dwar dawn ir-riżultati tista’ żżur maltairport.com

Ix-xogħlijiet fuq dan il-proġett mistennijin li jibdew filġimgħat li ġejjin, ladarba l-Awtorità tal-Ippjanar toħroġ ilpermess għal dan l-iżvilupp. Filwaqt li l-Kumpanija qiegħda timmira li l-ewwel stands ikunu lesti sabiex jibdew jintużaw fil-bidu tas-sajf 2024, il-proġett kollu huwa mistenni li jiġi konkluż fl-2026.

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Il-programm ta’ tnaqqis tal-ispejjeż tal-Kumpanija flimkien ma’ riżultati tat-traffiku mtejbin fuq is-sena ta’ qabel, wasslu għal żieda fil-qligħ qabel l-interess, it-tassazzjoni, iddeprezzament u l-amortizzazzjoni (EBIDTA) ta’ €18.5 miljun, b’mod parallel ma’ titjib ta’ 33.3 punti perċentwali fil-marġni tal-EBITDA. Filwaqt li l-Grupp kien irrapporta telf ta’ €4.3 miljun fl-2020, Malta International Airport plc għalqet l-2021 bi profitt nett ta’ €7.0 miljun.

Il-proġett ta’ Apron X huwa maħsub ukoll lil jgħin lill-Ajruport Internazzjonali ta’ Malta jkompli jonora l-impenji ambjentali tiegħu permezz tal-bini ta’ ġibjun ta’ 10,000 m3 sabiex jinġabar l-ilma tax-xita u l-installazzjoni ta’ dwal LED. Barra minn hekk, ser isiru preparamenti sabiex l-istands il-ġodda jkollhom aċċess għal provvista tal-elettriku, f’konformità mal-Artikolu 12 tal-pjan tal-Unjoni Ewropea sabiex jitnaqqsu l-emissjonijiet ta’ gassijiet b’effett serra Fit for 55, li tkun tista’ tintuża mill-ajruplani pparkajti minflok il-fjuwil.

MIA Link March 2022 Issue No. 25

Minkejja l-fatt li l-2021 kienet sena ferm aħjar minn ta’ qabilha, il-Kumpanija kompliet tiġġestixxi l-finanzi tagħha b’kawtela kbira, hekk kif l-inċertezza u l-instabbiltà komplew jiddominaw l-industrija tal-avjazzjoni matul is-sena. IlKumpanija rnexxielha tkompli tnaqqas l-ispejjeż tagħha fuq l-2020 b’rabta mal-marketing (-33.3%), il-persunal (-21.7%), u t-tiswija u l-manutenzjoni (-9.5%) permezz ta’ fowkus fuq xogħlijiet essenzjali biss, taħriġ għall-impjegati limitat għal dak obbligatorju u reklutaġġ neċessarju. IlKumpanija kompliet tibbenefika mill-iskema tal-COVID-19 ta’ supplement għall-pagi. Minn dawn it-tliet oqsma biss ilKumpanija ffrankat €3.4 miljun is-sena li għaddiet.

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MALTA INTERNATIONAL AIRPORT PLC’S

Share Price Analysis 2020 - 2021 12,000.000

10,000.000

8,000.000

6,000.000

4,000.000

2,000.000

0.000 22-FEB-19

16-APR-19

11-JUN-19

31-JUL-19

MIA vs Equity Price Index & Equity Total Return Index [3 Jan 2019 - 31 Dec 2021]

MIA Link March 2022 Issue No. 25

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20-SEP-19

11-NOV-19

9-JAN-20

2-MAR-20

27-APR-20

17-JUN-20

MSE Equity Price Index MSE Equity Total Return Index MIA Price

Malta International Airport plc’s share price performance throughout 2020 and 2021 was influenced by the COVID-19 pandemic and the measures taken to curb its spread. The local authorities’ decision to suspend all commercial flights to and from Malta in March 2020 was reflected in a dip in the share price of the island’s only airport.

Trading of the airport’s equity in 2020 was higher than in 2019 (nearly 1,000 trades more) with more than 1.98 million shares changing hands (2019: 1.88 million). In March 2020 alone, the number of shares that changed hands represented 33% of the year’s total number of shares traded on the Official List of the Malta Stock Exchange, at 658,464 shares.

This suspension came into effect on 21 March 2020, and on the next trading day, Malta International Airport’s share price closed at €3.52. This price represented a significant drop of 49% compared to the price level at the start of the same year. This was also the lowest price level since July 2015.

Despite vaccination efforts around the world, uncertainty continued to dominate 2021 and consumer confidence in air travel remained low, particularly as new virus variants emerged and more stringent travel restrictions were introduced across Europe. At just 700 trades for a total of 687,379 shares, trading in 2021 was more subdued.

Throughout the year, the share price traded in a range of between €5.60 and €6.50 on the back of an uneven recovery. Malta International Airport reported that traffic in 2021 was 65.2% lower than the traffic handled prior to the pandemic in 2019.

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Malta International Airport Plc’s Share Price Analysis 2020 - 2021

3-JAN-19

As the airport reopened its doors to commercial flights in July 2020 and started welcoming passengers again, the share price recovered most of the decline recorded in March. The share price at year-end was at the €6.20 level, compared to €6.90 at the end of 2019.

Analiżi tal-Prestazzjoni tal-Ishma 2020 - 2021 TA’ MALTA INTERNATIONAL AIRPORT PLC

9.000

8.000

7.000

6.000

5.000

4.000

3.000

2.000

30-SEP-20

19-NOV-20

15-JAN-21

9-MAR-21

4-MAY-21

Il-prestazzjoni tal-prezz tal-ishma ta’ Malta International Airport plc matul l-2020 u l-2021 kienet influwenzata millCOVID-19 u l-miżuri li ttieħdu sabiex tiġi kkontrollata l-firxa ta’ dan il-vajrus. Id-deċiżjoni li ttieħdet mill-awtoritajiet lokali li jiġu sospiżi t-titjiriet kummerċjali kollha minn u lejn Malta f’Marzu 2020 wasslet għal tisbita fil-prezz tal-ishma tal-uniku ajruport tal-gżira. Din is-sospensjoni daħlet fisseħħ fil-21 ta’ Marzu 2020, u fil-jum ta’ negozjar li kien imiss, il-prezz tal-ishma ta’ Malta International Airport plc għalaq fil-livell ta’ €3.52. Dan il-prezz irrappreżenta tnaqqis ta’ 49%, meta mqabbel mal-prezz fil-bidu tal-istess sena, u kien ukoll l-aktar livell baxx sa minn Lulju 2015.

Hekk kif l-Ajruport Internazzjonali ta’ Malta reġa’ fetaħ ilbibien tiegħu għal titjiriet kummerċjali f’Lulju 2020 u reġa’ beda jilqa’ l-passiġġieri, il-prezz tal-ishma rkupra kważi t-tnaqqis kollu li kien irreġistra f’Marzu. Il-prezz tal-ishma fi tmiem is-sena 2020 għalaq fil-livell ta’ €6.20, meta mqabbel mal-prezz ta’ €6.90 fi tmiem l-2019.

24-JUN-21

16-AUG-21

7-OCT-21

26-NOV-21

Matul l-2020, sar aktar xiri u bejgħ tal-ishma tal-ajruport mill-2019 (kważi 1,000 tranżazzjoni aktar) fejn aktar minn 1.98 miljun sehem biddlu l-idejn (2019: 1.88 miljun). F’Marzu tal2020 biss, in-numru ta’ ishma li biddlu l-idejn irrappreżenta 33% tal-ishma kollha li ġew innegozjati matul is-sena fuq ilLista Uffiċjali tal-Borża ta’ Malta, jiġifieri 658,464 sehem.

Minkejja li l-programmi ta’ tilqim madwar id-dinja qabdu ritmu tajjeb, l-inċertezza kompliet tiddomina matul l-2021 u l-kunfidenza tal-konsumatur fl-industrija talavjazzjoni baqgħet baxxa, partikolarment hekk kif tfaċċaw varjanti ġodda tal-vajrus u għadd ta’ pajjiżi Ewropej ħabbru restrizzjonijiet fuq l-ivvjaġġar aktar restrinġenti.

Konsegwentement, matul l-2021 ix-xiri u l-bejgħ tal-ishma sar f’livell ħafna aktar baxx mis-sena ta’ qabel, b’700 tranżazzjoni għal total ta’ 687,379 sehem. Matul is-sena li għaddiet, il-prezz tal-ishma varja bejn €5.60 and €6.50, hekk kif l-irkupru tal-ajruport u tal-industrija b’mod usa’ kien wieħed irregolari. L-Ajruport Internazzjonali ta’ Malta, fil-fatt, irrapporta li t-traffiku tal-2021 baqa’ 65.2% taħt ittraffiku li ġġestixxa l-ajruport qabel il-pandemija.

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7-AUG-20

MIA Link March 2022 Issue No. 25

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Analiżi tal-Prestazzjoni tal-Ishma 2020 - 2021 ta’ Malta International Airport Plc

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