MacroAsia stakes growth amid global aviation risks

Despite escalating geopolitical tensions in the Middle East, which continue to roil global aviation and fuel markets, MacroAsia Corp. remains cautiously optimistic this year.

The Lucio Tan-led company said Tuesday it is banking on a strong balance sheet, diversified revenue streams, and resilient non-aviation operations to weather potential airspace restrictions, volatile jet fuel prices, and airline schedule disruptions.

“While we remain mindful of geopolitical uncertainties, including developments in the Middle East, our limited direct exposure, strong balance sheet, and disciplined execution position us well to navigate these risks and capture growth opportunities,”  Eduardo Luis T. Luy, President and Chief Operating Officer, said. 

To manage risks, MacroAsia said it will double down on client diversification, operational flexibility, cost control, expansion of non-aviation businesses, maximizing returns from associates, and strict balance sheet discipline.

MacroAsia reported a 17 percent rise in consolidated net income to P1.61 billion in 2025, driven by the recovery in aviation activity, strong contributions from associates, and a robust fourth-quarter finish.

Net income attributable to equity holders of the parent rose 28 percent to P1.44 billion, reflecting higher-quality earnings and stronger equity income contributions.

Consolidated revenues grew six percent to P9.96 billion, led by in-flight catering, ground handling, and aviation services as airline traffic normalized.

Operating income increased eight percent to P1.82 billion despite higher manpower, fuel, and expansion costs. MacroAsia’s share in net earnings of associates more than doubled to P1.47 billion.

The fourth quarter stood out, with net income up 161 percent to P446.0 million and operating income rising 135 percent to P454.5 million. Gross profit climbed 45 percent to P980.6 million, while equity income from associates jumped 228 percent to P502.7 million. 

Higher flight volumes, improved load factors, stronger catering and ground handling activity, and better cost absorption drove the surge, offsetting weaker results earlier in the year and reinforcing a positive trajectory into 2026.

“Fiscal year 2025 reflects MacroAsia’s ability to deliver solid earnings growth while continuing to invest in capacity, service quality, and long-term strategic initiatives,” Tuy said. 

“Our strong fourth quarter performance demonstrates the resilience of our operating platform and the benefits of our diversified portfolio, particularly our strategic investments in associates,” he added. 

Last year, MacroAsia spent P1.42 billion on facility expansion, fleet and equipment upgrades, and improving service capabilities.

By year-end, total assets had grown 24 percent to P16.57 billion, total equity rose 20 percent to P9.07 billion, and net debt remained low at around P313 million.