Malta International Airport Plc

Earnings Release • Jan 27, 2012

COMPANY ANNOUNCEMENT

Malta International Airport plc (the "Company")

Forecast 2012

Date of Announcement 27 January 2012

Reference 121/2012

In terms of Chapter 5 of the Listing Rules

Malta International Airport plc is forecasting that passenger numbers for 2012 will be slightly less than the record achieved in 2011, i.e. c. 3.4 million, down 2.8% from the all-time record of 3.5 million achieved last year, but over 3% more than the previous record achieved in 2010. This was announced by Chief Executive Officer, Mr Markus Klaushofer at a news conference during which Malta Airport analysed the traffic results achieved in 2011.

Mr Klaushofer said that the forecast for 2012 is being based on various considerations. "An important factor is that the European economic crisis will lessen demand for travel. This will adversely affect our core markets – UK, Italy, Germany, France and Spain. In the first three months we will surely see a decrease in traffic, whereas in the Summer Schedule we are envisaging a consolidation of last year's results," he added.

The new routes for 2012 will be the Air France operation to Toulouse as of April, and Ryanair's announced new destinations as from May: London-Stansted (UK), Bournemouth (UK), Malmo (Sweden), Oslo-Rygge (Norway), Turin (Italy), Wroclaw (Poland) and Kaunas (Lithuania).

Mr Klaushofer referred to the Traffic Results of 2011. Aircraft movements at Malta Airport decreased slightly by 914 which is 3.2% less when compared to 2010 whilst seat capacity decreased by 41,409, which is equivalent to 0.9%.

Air Malta had almost 48% of the traffic which is equivalent to 1,678,484 passenger movements, registering a negligible decrease of -0.2% on figures registered in 2010. It is followed by Ryanair with a traffic share of 22.4% equivalent to 787,175 passenger movements meaning an increase of 16.5% and easyJet with a traffic share of 9.7% equivalent to 341,204 passenger movements meaning an increase of 12.6%.

Malta Airport's main markets for 2011 were the United Kingdom with a share of 31% translating into 1,086,123 passenger movements - +5.2% over 2010. This was followed by Italy with 17.6% or 616,666 passenger movements – i.e. -3.9% over 2010; and Germany with 14.8% or 520,706 passenger movements, resulting in an increase of 23.2% over last year.

Legacy carriers have increased slightly their passenger numbers marginally – +0.8%, with their overall market share registering a decrease of slightly over 3 percentage points (62% in 2010, 58.8% in 2011). Low Cost carriers increased their market share by two percentage points: (32% in 2010, 34% in 2011) with an increase of 14.6% in passenger movements. Charter operations have also increased their share from total traffic (6% in 2010) to 7% in 2011 with a staggering increase of almost 22% in their passenger movements.

The CEO also announced that in the first part of 2012, Malta International Airport will be celebrating the 20th Anniversary of the inauguration of the Air Terminal, which was officially unveiled on Saturday 8th February

1. He unveiled a special logo being used and gave details on a number of events and initiatives to celebrate this anniversary, which will culminate in the unveiling of the SkyParks Business Centre in the summer.

Mr Klaushofer concluded that although expressing satisfaction at the results achieved in 2011 by all the stakeholders involved in the tourism industry, he invited everyone to remain cautious on the outcome of 2012.

Overview - 2010

	2011	2010	+ / -	% Change
Passenger Movements	3,506,521	3,293,527	212,994	6.5%
Aircraft Movements	28,022	28,936	-914	-3.2%
Seat Capacity	4,611,918	4,653,327	-41,409	-0.9%
Seat Load Factor	76.0%	70.8%	n/a	5.2 PPD
MTOW (in tonnes)	2,320,539	2,385,709	-65,170	-2.7%
Cargo and Mail (in tonnes)	16,231	16,953	-722	-4.3%
General Aviation Aircraft Movement	3,220	2,551	669	26.2%

Top Destinations (by Country) - 2011

Country	Pax 2011	Pax 2010	Change	% Change	% Share
United Kingdom	1,086,123	1,032,721	53,402	5.2%	31%
Italy	616,666	641,811	-25,145	-3.9%	17.6%
Germany	520,706	422,498	98,208	23.2%	14.8%
France	198,512	182,485	16,027	8.8%	5.7%
Spain	174,914	173,858	1,056	0.6%	5%

Top Airports - 2011

	2011	2010	+ / -	% Change
London – Gatwick	281,315	288,534	-7,219	-2.5%
Rome - Fiumicino	219,738	231,342	-11,604	-5%
Frankfurt	211,049	181,459	29,590	16.3%
London – Heathrow	201,516	197,182	4,334	2.2%
Manchester	169,263	182,097	-12,834	-7%

Note: With the exception of cargo and mail and MTOW, all figures relate to scheduled & non-scheduled movements, excluding General Aviation.

For further information on traffic results, log on to www.maltairport.com/stats or contact the MIA PR & Corporate Communications Department on 2369 6288.

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Louis de Gabriele Company Secretary