HK airport authority 1st-half net surges 50pct on higher traffic

Airport Authority Hong Kong, which operates the city’s international airport, said Monday its first-half net profit surged 50% from a year earlier amid a robust recovery in demand for passenger and cargo services.

The unlisted government-owned airport operator said in a statement its net profit for the six months ended Sept. 30 rose to HK$1.96 billion (US$235 million) from HK$1.31 billion a year earlier.

Revenue during the period increased 19% to HK$5.14 billion from HK$4.32 billion.

Stanley Hui, the company’s chief executive, said in a statement air traffic has returned to pre-crisis levels and the pace of the recovery in air traffic demand in the first half was better than expected, particularly in the air cargo market due to robust growth in export and transshipment.

“With signs of sustained economic growth, we are on track for new records in passenger and cargo volume as well as aircraft movements, although the rate of growth in the coming months may slow down against a higher base of comparison,” he said.

The airport operator said passenger volume in its first half rose 13% to 26.0 million from 23.0 million, while cargo volume increased 27% to 2.1 million metric tons from 1.7 million tons.

Air traffic movement rose 12% to 154,834 from 138,541.

 

Category: Hong Kong