MANILA - MacroAsia said on Monday it returned to profitability in 2022 with a net income of P461.43 million, a reversal of the P150.92 million net loss the previous year partly due to the easing of travel restrictions.

The consolidated net income came from contributions of its aircraft maintenance, repair and overhaul (MRO) joint-venture with Lufthansa Technik of Germany, airline catering and food services units, ground handling, and water distribution and concession businesses, MacroAsia told the stock exchange

Its comprehensive income, meanwhile, reached P730.62 million in 2022, compared to the P161.82 million the previous year, MacroAsia said.

Consolidated revenues in 2022 reached P4.88 billion, up by 151 percent from P1.95 billion in 2021, it added.

"The favorable operating conditions of MacroAsia's subsidiaries and affiliates in 2022, as well as the success of the drive to growth the Group's non-airline business units resulted into the strong topline growth," the company said.

MacroAsia also operates the inflight kitchen for Philippine Airlines and other foreign airlines.

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