Hong Kong Airport Authority sets profit record

Airport Authority Hong Kong ( AAHK) said Wednesday it earned a record 5.6 billion HK dollars (about 725 million U. S. dollars) in profit for the fiscal year ended March 31, 2013, up 5.4 percent year on year. Revenue rose 8.1 percent from the year before to 13.1 billion HK dollars. AAHK declared a final dividend of 4.4 billion HK dollars to the Hong Kong Special Administrative Region government, it said. During the same period, passenger throughput and flight movements set new records, increasing 4.1 percent to 57.2 million and 4.7 percent to 355,000, respectively. Cargo throughput rebounded as total cargo handled rose 2.9 percent to 4.04 million metric tons. Stanley Hui Hon-chung, chief executive officer of AAHK, said the revenue growth was largely driven by strong air traffic and increased passenger spending at retail concessions. He expects air traffic and passengers spending to continue its growth momentum, resulting in healthy increase in revenue, and 48 new aircraft parking stands in the apron and midfield area will be commissioned in phases within the next two and a half years to cope with the anticipated growth in air traffic in the medium term.