HKIA profit jumps 5%

Record passenger levels also boost turnover.

Turnover rose 8.1% in March 2013, said the Hong Kong International Airport Authority. Passenger numbers reached record levels with 57.2 million passengers using the airport in financial year 2012/2013.

CEO Stanley Hui Hon-chung said revenue growth was largely driven by strong air traffic and increased passenger spending at retail concessions.

"Looking ahead, we expect air traffic and passengers spending to continue its growth momentum, resulting in healthy increase in revenue. To cope with the anticipated growth in air traffic in the medium term, 48 new aircraft parking stands in the apron and Midfield area will be commissioned in phases within the next two and a half years.”

HKIA, however, expects next year’s performance could be hit by the stagnant economy in the Eurozone, the weak global economic recovery and the gradual withdrawal of quantitative easing measures in the US, along with the combination of slower economic growth and liquidity concerns in mainland China’s financial sector.