Hong Kong Airport profits soar, despite traffic slump

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.

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