Better than expected profit for HK Airport

The Hong Kong Airport Authority said its first-half net profit surged 50 per cent from a year earlier amid a robust recovery in demand for cargo and passenger services. “Air cargo, which suffered the most during the economic downturn, did particularly well in the period under review, boosted by robust export and transhipment,” said HKAA’s […]


The Hong Kong Airport Authority said its first-half net profit surged 50 per cent from a year earlier amid a robust recovery in demand for cargo and passenger services. “Air cargo, which suffered the most during the economic downturn, did particularly well in the period under review, boosted by robust export and transhipment,” said HKAA’s chief executive, Stanley Hui. Cargo volumes increased 27 per cent to 2.1 million tonnes from 1.7 million tonnes. The government-owned airport operator said in a statement its net profit for the six months ended 30 September rose to HK$1.96 billion (US$235 million) from HK$1.31 billion a year earlier. Revenue during the period increased 19 per cent to HK$5.14 billion from HK$4.32 billion. “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.