GACL to diversify revenue with proposed Airport City 2 Project – Managing Director

Managing Director of Ghana Airports Company Limited (GACL), Madam Pamela Djamson-Tettey has revealed that her outfit would focus on diversifying non-aeronautical revenues to enhance the company transform its revenue-generating capacity.

According to her, GACL would be rolling out new business development strategies that would ensure the growth and diversification of revenues with the proposed Airport City 2 Project in line with the company goals.

She believes that, this vision when achieved would facilitate the making of Kotoka International Airport a leading airport business in the West Africa and the world.

“The Company will focus on implementing new Business Development Initiatives, strategies for the growth and diversification of Non-Aeronautical Revenues in line with its corporate objectives.

In that regard, the proposed Airport City 2 Project will feature largely in the Company’s efforts to enhance its Non-Aeronautical Revenue Base in the coming years. It is expected that this approach will produce tangible results and transform the revenue-generating capacity of the Company, and drive the vision to make Kotoka International Airport a true hub and leader in the Airport Business of West Africa,”

Madam Pamela Djamson-Tettey made known at the GACL’s 8th Annual General Meeting held in Accra.

On the company’s financial performance, the GACL MD noted that for the year under review ending 31st December 2021, the company recorded a loss of about GH¢252 million. Although it was a big hit, she maintained that, this is a relatively improved performance compared to the loss of GH¢435.5 million recorded in 2020.

Madam Djamson-Tettey explaining what accounted to the loss said it was due to significant increase in financial cost for the Term Loan Facility for constructing Terminal 3 at Kotoka International Airport.

She was however optimistic the GACL remains poised to post a much-improved performance in the coming years through the implementation of effective business strategies to boost operations and improve working conditions.

Madam Djamson-Tettey also commended staff for their resilience and exemplary workmanship throughout the business recovery process following the overwhelming and unparalleled effects of COVID-19 and ensuing travel restrictions on airports.

EAN/MA