BusinessToday Previous Editions

BUSINESS TODAY 16 June 2022

Issue link: https://maltatoday.uberflip.com/i/1471025

Contents of this Issue

Navigation

Page 3 of 11

4 NEWS 16.6.2022 May traffic through Malta International Airport just 18% below 2019 levels SIGNS of the comeback of air travel continued to be ob- served by Malta International Airport, with May becoming the second consecutive month to surpass the half a million passenger mark. 554,820 pas- sengers travelled through Mal- ta International Airport last month, translating in a recov- ery of 82.3 per cent of pre-pan- demic figures, as more travel requirements were lifted by the Maltese authorities. Additionally, the majority of the countries that are directly connected to Malta Interna- tional Airport have now com- pletely removed their travel requirements for passengers coming from a European Un- ion or Schengen country. Passenger traffic recovered in line with the recovery of seat capacity, which was at 81.2 per cent of 2019 levels. 81.4 per cent of the seats availa- ble on flights operated to and from Malta International Air- port were occupied during the month of May. Marking an increase of 1.1 per cent over 2019, last month's seat occupancy was the highest Malta International Airport has registered in the past two years, indicating a further re- lease of the pent-up demand for air travel. Top markets Italy continued to lead the way in terms of market popularity, accounting for 121,120 passen- gers out of May's total traffic. e United Kingdom, France, Germany and Poland too re- tained their rankings from the previous month. While Malta International Airport has recovered almost 80 per cent of its pre-pandem- ic connectivity, the recovery of routes connecting the airport to two of its core markets - the United Kingdom and Germany – is being achieved at a much slower pace. Prior to the pandemic, the United Kingdom and Germany had occupied the top and third spots of the airport's market leaderboard respectively. Industry update Looking at the wider picture shows that the most recent up- dated forecast for the industry was released by Eurocontrol last week. Eurocontrol's forecast for flight movements in Europe pro- vides three recovery scenarios, each of which takes into account the impact of the war in Ukraine. e baseline scenario, which falls in between a more pessi- mistic and a more optimistic scenario, shows that a recovery to pre-pandemic figures will be achieved in 2024, in a scenar- io where passenger confidence continues to increase, staff shortages are controlled, and the increase of energy prices and other costs have a limited impact on people's purchasing power. ONE million people have officially vis- ited Bay Street Complex since the start of 2022. is success continues to es- tablish Bay Street Complex as the ideal family and touristic destination hosting a mix of entertainment, hospitality, and shopping outlets for all to enjoy. is comes following last year's re- vamp and restructuring of what's now becoming an iconic location in the heart of Malta's touristic paradise, St Julian's, with an investment of over €14 million by Bay Street Group. "We are delighted to see that the pub- lic is finding a home in Bay Street Com- plex. e team behind Bay Street Group and the tenants occupying the several commercial spots at Bay Street Com- plex have been working hard to ensure that the complex keeps offering a first- rate experience for all the family to en- joy," said the Marketing Manager of the Bay Street Group, Paula Camilleri. "e one million footfall mark in just five months, especially after a period of two years battling a pandemic that pushed many businesses to have to close their doors, gives us the kind of re- assurance that despite it all, Bay Street Complex has experienced a growth of 21% over the same period during 2019 and is still seen as the ideal family desti- nation by both locals as well as tourists." Bay Street has evolved from one of Malta's prime shopping complexes into a fully-fledged destination, offering a variety of dining and entertainment ex- periences as well as shopping. Apart from the €14 million invest- ment, Bay Street Complex has been hosting several themed events and en- tertainment experiences for all ages including bringing to Malta one of the UK's top escapologists and hosting per- formances from Malta's X-Factor final- ists among other initiatives. Bay Street Complex hits the 1 million visitors mark since the beginning of 2022

Articles in this issue

Archives of this issue

view archives of BusinessToday Previous Editions - BUSINESS TODAY 16 June 2022