Hong Kong International Airport (HKIA) set new records for both revenue and profit in the financial year ended March 31, 2012.
Revenue rose 14.8 percent to HK$12.1 billion (US$1.5 billion), while profit attributable to the equity shareholder went up 32.2 percent to HK$5.3 billion year-on-year, announced the Airport Authority Hong Kong (AAHK).
Passenger volume increased 6.6 percent to 54.9 million and flight movements rose 7.2 percent to 339,000 for 2011-2012 compared to the previous fiscal year.
Cargo performance softened by 5.9 percent to 3.9 million tonnes, but HKIA held on to its position as the world’s busiest international cargo airport, a position it has held since 1996, the AAHK said in a press statement.
“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,” said Stanley Hui Hon-chung, AAHK chief executive officer.
He added that he was encouraged that both revenue and profit have seen double-digit growth for two consecutive years.
To meet traffic demand, the airport is being expanded into a three-runway system. After receiving the in-principle approval from the government this March, AAHK kick-started the Environmental Impact Assessment process by submitting the project profile to the Director of Environmental Protection.