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Hong Kong Airport profits soar, despite traffic slump

27-Nov-2008

The earnings divide between the worldwide airport and airline sectors is probably no more apparent than in Hong Kong. As Cathay Pacific slumped to a first half loss (six months to 30-Jun-08) on soaring fuel prices, Airport Authority Hong Kong (AAHK), operator of Hong Kong International Airport (HKIA) soared to an interim profit of USD175 million in the six months ended 30-Sep-08, up 19.5% year-on-year, despite falling passenger demand in the latter part of the period. [858 words]

Unlock the following content in this report:

Subheadings:

  • Shielded from downturn by strong commercial revenues
  • More retailing opportunities opening up
  • Though traffic is falling
  • Outlook: Confident amid the economic challenges

Graphs and data:

  • Airport Authority Hong Kong financial highlights: Six months ended 30-Sep-08 results (USD mill)
  • Hong Kong International Airport net profit margin (%): FY04 to 1HFY09 (financial years ended 31-Mar)
  • Hong Kong International Airport passenger numbers growth and revenue growth: FY04 to 1HFY09 (financial years ended 31-Mar)
  • Hong Kong International Airport passenger numbers growth vs cargo volume growth (% change year-on-year): Jan-08 to Oct-08
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