MAHB to extend relief package to all retailers from January

MAHB to extend relief package to all retailers from January
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KUALA LUMPUR (Dec 8): Malaysia Airports Holdings Bhd (MAHB) is extending its customised relief package to all its retailers with up to 30% rental rebate beginning January 2021.

In a statement today, MAHB said the relief package is offered to its pre-existing retailers who have signed up under the commercial reset programme with 100% rental rebates from July to December 2020. 

In addition, it said airline partners will also enjoy up to 30% rebate on aeronautical charges such as landing, aircraft parking, aerobridge and check-in counter charges, but not Passenger Service Charge (PSC). 

"From 2021 onwards, the pre-existing retailers will only be charged rental based on the actual passenger growth rate at the airport, for example, if the passenger traffic is at 20%, then they will only pay 20% of the full rental.

"The new rental model, which is applicable for those under the commercial reset programme, will enable eligible retail tenants to enjoy up to 30% rental reduction from the current rates with the added benefit of compensating the gap in traffic lower than 70% with extended contract period," it said. 

MAHB group chief executive officer (CEO) Datuk Mohd Shukrie Mohd Salleh said the relief package was introduced in response to pleas from tenants who are facing cash flow challenges, especially with the reimposition of the conditional movement control order (CMCO) in most states.

“What we are doing for our retailers is over and above any assistance package offered by any city malls and we believe that it is a fair package for all parties under the circumstances.

“It is with this guiding principle in mind that we took this step to offer the additional rebates despite being in the red ourselves for the last three quarters, and this will reduce our cash reserves further," he said.