Mike King, Special Correspondent | Jun 27, 2012 8:57AM EDT
Hong Kong International Airport saw profits and revenue both reach record highs in the year ended March 31 despite bearish cargo throughput.
Airport Authority Hong Kong said the hub’s revenue rose 14.8 percent year-over-year to HK$12,154 million ($1,566), while profit attributable to the equity shareholder went up 32.2 percent to HK$5,336 million.
Passenger volumes were up 6.6 percent to 54.9 million, and flight movements rose 7.2 percent to 339,000. However, cargo volume contracted by 5.9 percent to 3.9 million tonnes, although HKIA retained its position, held since 1996, as the world’s busiest international cargo airport.
“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 AAHK Chief Executive Officer Stanley Hui Hon-
Contact Mike King at michael@borderline.eu.com.