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Airport Authority Hong Kong (AAHK) announced Wednesday a record profit attributable to shareholder of 1.92 billion HK dollars (US$246 million) for the year ending on March 31, an increase of 19 percent over last year.

 

Meanwhile, the Board of AAHK declared a final dividend of 1.6 billion HK dollars to the Government of the Hong Kong Special Administrative Region, a 23 percent increase from fiscal 2005/06.

 

Revenue grew 9.4 percent to HK$7.738 billion, driven by strong growth at Hong Kong International Airport (HKIA), which served 45.1 million passengers, handled 3.6 million tons of cargo and saw 283,000 air traffic movements during the year, increasing 8 percent, 3 percent and 5 percent, respectively, from fiscal 2005/ 06. Return on equity rose to 5.6 percent from 4.9 percent in 2005/ 06.

 

"In 2006/07, we benefited from robust global trade and the Mainland's ongoing economic expansion. We expect continued rapid growth in demand for aviation services in Asia," said AAHK Chief Executive Officer Stanley Hui.

 

"To meet this demand, we are introducing new services and facilities and strengthening our links with the Pearl River Delta, which is a key source of both passengers and cargo," he said.

 

In October 2006, the Airport Authority started a 20-year management contract at Zhuhai Airport. Two months later, the Airport Authority took a 35 percent equity stake in Hangzhou Xiaoshan International Airport Co. Ltd. The outlook for these airports is positive, with passenger volume increasing 23 percent in Hangzhou and over 38 percent in Zhuhai during the year.

 

Officially opened in June 2007, Terminal 2 (T2) provides capacity to meet growing passenger numbers at HKIA. With its spacious coach station and convenient access to the automated people mover and Airport Express, T2 enhances the airport's reputation as a multi-modal hub where rail, road, sea and air transport converge seamlessly.

 

HKIA Tower, the new home to the Airport Authority, opened in February 2007 and construction continued on a second office tower, a second airport hotel and the permanent SkyPier, which will serve ferries operating between HKIA and destinations in the Pearl River Delta.

 

"Modern, attractive infrastructure positions HKIA to capture rising demand and reinforces the airport's position as one of the most important gateway hubs of China," he said.

 

To strengthen HKIA's long-term competitiveness, in fiscal 2006/ 07 the Airport Authority announced plans for a new cargo terminal and a precious metals depository, as well as a feasibility study for a third runway. A 20-year plan for the airport's growth and development, HKIA 2025, was also released.  

 

(Xinhua News Agency June 28, 2007)