Airport Authority Hong Kong has announced a profit of US$291m for the 2007-08 financial year – an increase of 18% on 2006.
Revenues rose 11% to $1bn, while passenger and cargo throughput at Hong Kong International Airport (HKIA) increased by 8% and 6%, respectively, to 48.9 million and 3.8 million tonnes.
Airport Authority Chief Executive Stanley Hui Hon-chung said the authority's short-term outlook is cautious due to increasing oil prices.
"However, our medium- to long-term prospects remain encouraging, especially given the continued expansion of global trade, sustained economic growth in Hong Kong and on the Chinese Mainland, and government efforts to increase aircraft movements at HKIA to 68 per hour by 2015," he said.
The authority also announced plans to commission a 20-year development blueprint, Master Plan 2030.
"Master Plan 2030 will examine whether and how our infrastructure – including airport access, terminal and apron facilities and a new runway – should be developed to support the economic growth of Hong Kong and the region. Environmental impact and engineering feasibility studies for a third runway will start later this year."
By Elizabeth Clifford-Marsh
