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HKIA sees revenue surge, cargo drop in fiscal year

By Hpanchal on June 27, 2012

Hong Kong International Airport continued its year-long reign as the No.1 cargo airport in the world in fiscal-year 2011-2012, despite a 5.9 percent, year-over-year, drop in traffic. In total, HKIA saw 3.9 million tonnes of cargo pass through its doors in the financial year that ended March 31, a volume that contributed to the airport’s 14.8 percent, year-over-year, revenue surge during the fiscal year.

HKIA also saw a substantial increase in profit attributable to the equity shareholder in fiscal-year 2011-2012, with profits surging 32.2 percent, year-over-year, to HK$5.3 million. The airport’s respective 7.2 percent and 6.6 percent, year-over-year, improvements in flight movements and passenger volumes played a strong role in this profit increase, according to a press release.

Airport Authority Hong Kong CEO Stanley Hui Hon-chung also spoke out about the airport’s financials in fiscal-year 2011-2012, stating that he is encouraged by HKIA’s double-digit hikes in revenue and profit for the second consecutive year.

“The strong performance is a result of healthy traffic growth, and it is indicative of our ongoing efforts to contain costs, enhance operational efficiency and explore every possible means to increase revenue by leveraging HKIA's growing passenger traffic,” Hui said in a 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.”

Many at HKIA are championing a three-runway system to address this demand. In late May, the airport made significant progress in its push for a third runway, with AAHK submitting its project profile to the Director of Environmental Protection; this action launches a probe into the environmental impact of a three-runway system, according to the press release.

Hui said the project profile defines the scope of the initiative and identifies any environmental roadblocks in the foreseeable future. “We are committed to full compliance with the statutory EIA process, and will explore every possible way to avoid, minimize and mitigate any environmental impact that may arise from the proposed airport expansion,” Hui said.

HKIA is also looking to reduce its environmental impact from an airport-wide perspective. The airport, which has pledged to slash its carbon intensity by one-quarter of 2008 emission levels by 2015, is on track to achieve this goal, according to the press release. Currently, HKIA is 10 percent below 2008 emission levels.

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