Hong Kong airport profits surge
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Hong Kong’s Airport Authority (AA) posted a strong set of financial results for the 2013-14 fiscal year.
Announcing the results today (25 June 2014), the AA revealed it generated profits of HK$6.45 billion (US$833 million) for the 12-month period, 14.9% more than the previous year.
Revenues climbed 12.8% to HK$14.81bn, driven by a record passenger traffic and aircraft movements. Passenger numbers at Hong Kong International Airport (HKIA) increased 6.1% to 60.7m, while the number of take-offs and landings reached 377,476, up 6.3% year-on-year.
“Air traffic at HKIA is growing much faster than the projections made in HKIA Master Plan 2030. We expect that the global economic recovery and robust regional growth will continue to drive traffic demand at a moderate rate. As a result, the two-runway system at HKIA will likely reach its capacity in a few years’ time,” said Stanley Hui Hon-chung, CEO of the AA.
“To increase ground handling capacity for the immediate and medium terms, we have been pushing ahead with our midfield development and west apron expansion projects. An investment of more than HK$12bn, these two projects will add a total of 48 parking stands and allow HKIA to serve an additional 10m passengers a year,” added Hui.
Under the apron expansion programme, 20 new parking stands have already entered service, and another eight will become operational by the end of 2014.
The five-level Midfield Concourse with 20 parking stands is scheduled for commissioning by end-2015. Meanwhile, the AA is continuing with plans to develop a three-runway system at HKIA.
Cross-boundary passenger trips between HKIA and destinations across the Pearl River Delta also saw steady growth last year, with approximately 2.7m passengers travelling via SkyPier and two million passengers using the limousine and coach services. These figures represented gains of 1.7% and 1.0% respectively compared to the previous fiscal year.
The new Hong Kong-Zhuhai-Macao Bridge is currently under development and will boost cross-boundary traffic in the coming years.
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