Core businesses pull up MacroAsia income in Q1

MANILA, Philippines — Aviation support service provider MacroAsia Corp. increased its profit by 21 percent in the first quarter, backed by double-digit growth in its core businesses.

MacroAsia reported that its net income went up to P313.91 million in the first three months of the year, from P259.91 million a year ago, drawing higher earnings from its main services.

The company raised its revenue by six percent to P2.35 billion, offsetting the eight percent hike in expenses to P1.81 billion.

Broken down, MacroAsia said its in-flight catering segment turned in P1.15 billion in earnings. The company served 6.25 million meals for its airline clients in the first quarter.

Further, MacroAsia’s ground handling improved revenues by two percent to nearly P1 billion in spite of fewer flights facilitated during the period. The company recorded a one-percent dip in its flights handled to 47,546.

MacroAsia’s water business contributed seven percent of the revenues, growing by 11 percent to P171.6 million in the first quarter, from P154.1 million a year ago.

The company, involved in water distribution primarily in Boracay and Cavite, improved its sales by four percent on higher consumption at 4.87 million cubic meters.

MacroAsia, however, jacked up its spending by eight percent to P1.81 billion to cover the cost of more business activities in aviation and water.

MacroAsia said the cost of doing business in the Ninoy Aquino International Airport (NAIA) has gone up since operations and maintenance were privatized in September 2024. The new operator, New NAIA Infrastructure Corp., raised airport fees to fund the P170.6-billion rehabilitation of the gateway.

Currently, MacroAsia is negotiating with the Department of Transportation for the lease renewal of Lufthansa Technik Philippines (LTP). MacroAsia owns 49 percent of LTP, whose 25-year stay in NAIA is about to expire this year.

Under a privately run NAIA, lease has increased to P710 per square meters per month, meaning LTP has to pay a monthly rate of P160 million to keep its 226,000-sqm base in the airport.

LTP is a prized investor in NAIA, as it extends aircraft maintenance, repair and overhaul services to some of the biggest airlines in the world, employing more than 3,000 Filipinos in the process.