Hong Kong airport lifts first half profits 17%

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Hong Kong International airport (HKIA) has posted a 17% year-on-year increase in its attributable net profit for the first half of FY2013/14 to HK$3.22 billion ($415 million).

In the six month period to 30 September, its revenue grew by 15% to $7.34 billion from $6.4 billion, while operating expenses before depreciation and amortisation grew almost 19% to $2.37 billion.

The airport’s operating profit before depreciation and amortisation rose 13% to $4.97 billion.

Passenger traffic at HKIA rose 6.3% to 30.5 million while cargo throughput increased 1.8% to 2.04 million tonnes. Aircraft movements were up 6.4% to 187,000.

“To meet the airport’s increasing traffic demand, we have been working hard to achieve the target of commissioning the midfield concourse by the end of 2015, which will allow us to serve an additional 10 million passengers a year,” says AAHK’s chief executive Stanley Hui.

“In addition, a total of 48 parking stands, including 20 at the midfield concourse, are being made available in phases before the end of 2015. Of the 48 new stands, six of them became operational this July, and another six will be completed by the end of this year. These expansions are critical to manage the faster-than-forecast traffic growth,” adds Hui.

Planning works are also being carried out to expand the airport into a three-runway system. The AAHK reiterated its commitment to manage the planned expansion prudently, pointing to its engagement of stakeholders and public on work progress, such as briefings, airport visits, and forum sessions on the environmental impact assessment.