The airline operating in the SAR has signed a three-year extension with the government for its concession.<\/p>\n\n\n\n\n\n\n\n
Macau.- The government has signed a three-year extension of Air Macau\u2019s concession contract. It means the company will remain the SAR’s flag carrier until at least 2023.<\/p>\n\n\n\n
The extension comes after a 25-year concession granted in 1995. The company was told that the government intended to end the exclusive concession in order to promote liberalisation but was forced to change its plans due to the Covid-19 pandemic.<\/p>\n\n\n\n
The SAR authorities said in a statement: \u201cThe concession contract of Air Macau will reach its expiry on 8 November 2020. Facing the outbreak of the novel coronavirus pneumonia worldwide, the aviation sector is adversely affected and will take a considerable period of time to recover. During this period, it is necessary to maintain the stability of the industry operations.<\/p>\n\n\n\n
“To ensure that Air Macau will continue to provide continual and stable services to the Macau residents as well as to the visitors, the Macau SAR Government extended the concession contract of Air Macau for three years.\u201d<\/p>\n\n\n\n
Air Macau recorded a 37 per cent year-on-year fall in profits to MOP$127.6 million (US$15.9 million) in 2019, and is expected to fall to a loss in 2020 due to reduced flights owing to the pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"
The airline operating in the SAR has signed a three-year extension with the government for its concession.<\/p>\n","protected":false},"author":2,"featured_media":10937,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Macau SAR government has granted Air Macau a three-year extension to its exclusive concession, ensuring its role as the flag carrier until 2023. This decision, driven by the need for industry stability amidst the Covid-19 pandemic, postpones prior plans for market liberalization. The airline faces significant financial headwinds, reporting a profit decline in 2019 and an anticipated loss in 2020.","focusai_entities":"Air Macau, Macau SAR Government","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), investor_analyst (0.85), journalist_researcher (0.8), supplier_vendor (0.7)","focusai_suggestions":[{"label":"Market Liberalization Impact","query":"What are the long-term implications of this concession extension on Macau's stated goals for market liberalization across other regulated sectors, including iGaming, post-pandemic?"},{"label":"Regulatory Precedent Set","query":"What regulatory precedent does this government intervention set for other concession-based industries in Macau facing significant market disruption?"}],"footnotes":""},"categories":[160,157,16338],"tags":[257],"class_list":["post-10935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-business-news","category-east-asia-news","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10935"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10935\/revisions"}],"predecessor-version":[{"id":10938,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10935\/revisions\/10938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10937"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}