Record profits for Hong Kong airport
Hong Kong International Airport (HKIA) set new records for both revenue and profit in the 2011-12 financial year.
For the 12 months ending 31 March 2012, the airport achieved profits of HK$5.34 billion (US$688m), up 32.2% year-on-year, while revenues climbed 14.8% to HK$12.15bn. During the year, HKIA’s passenger volume increased 6.6% to 54.9m while flight movements rose 7.2% to 339,000.
“The strong performance is a result of healthy traffic growth, and it is indicative of our ongoing efforts to contain costs, enhance operational efficiency and explore every possible means to increase revenue by leveraging HKIA’s growing passenger traffic,” said Stanley Hui Hon-chung, CEO of Airport Authority Hong Kong (AAHK).
“All three of our air traffic categories in 2011-2012 surpassed our 20-year forecast by two to three years. In addition to its top rankings in international cargo and passenger volumes, HKIA has been the world’s busiest cargo airport for the second consecutive year and, for the first time, a top 10 busiest passenger airport in the world. Although the sluggish global economic growth and the eurozone crisis continue to cast an uncertain shadow over the global economy, we are confident in HKIA’s long-term air traffic demand,” Hui added.
To meet its increasing traffic demand, HKIA is expanding its capacity and facilities. In 2011 AAHK launched a HK$500m project to upgrade HKIA’s terminal buildings, airport facilities and operation systems. In addition, the HK$10.2 billion Midfield and HK$2.2 billion West Apron developments will boost the airport’s annual capacity by 10m passengers per year by 2015.