The Namibia Airports Company (NAC) reported a 199% surge in passenger arrivals to 854,808 in the financial year ending 31 March 2023, compared to the previous year’s figure of 429,745.
The 854,808 passengers represent 73% of the pre-Covid peak passenger volumes witnessed in the 2019/20 financial year, which stood at 1,165,592.
“Although the NAC has experienced great levels of instability during the three previous financial years, as at December 2023, the recovery of passenger volumes to those of pre-Covid continues with the financial year YTD stood at 86% of pre-Covid volumes. This is a significant improvement from the 73% recorded as at 31 March 2023,” NAC Chief Executive Officer Bisey /Uirab said.
/Uirab also reported a profit after tax of N$19.5 million for the financial year ending 31 March 2023 for the airports operator, which is a notable shift from the loss of N$93.7 million recorded in the prior year.
“Financial performance for the company has significantly improved due largely to a very deliberate monitoring of its costs by means of a cost containment strategy,” he said.
He further explained that the company’s cash flows from operating activities surged from an outflow of N$79,059,796 in the previous year to an inflow of N$149,059,791 for the year ended 31 March 2023.
“NAC gradually increased its maintenance and repairs and regulatory and compliance related recruitment whilst maintaining its cash flows levels while remaining financially stable,” he stated.
The reported surge is in line with the Hospitality Association of Namibia report that the country’s tourism industry experienced a surge in leisure travel last year, with 90% of total visits.
Research firm, Simonis Storm also predicts that the Namibian hospitality industry will have a promising 2024 with early indicators and expert insights pointing towards a robust recovery of the tourism industry.
