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Cargo rebounds at Hong Kong Airport

Cargo throughput at Hong Kong International Airport rebounded during the fiscal year that ended March 31, the Airport Authority Hong Kong announced Wednesday.

Total cargo handled rose 2.9 percent to 4.04 million tonnes. HKIA was ranked the world’s busiest cargo airport for the third consecutive year.

Passenger throughput and flight movements set new records.

“To cope with the anticipated growth in air traffic in the medium term, 48 new aircraft parking stands in the apron and Midfield area will be commissioned in phases within the next two-and-a-half years,” Stanley Hui Hon-chung, CEO of AAHK, said.

AAHK attributed the increase in operating expenses in fiscal year 2012-2013 to inflationary pressures, strong traffic growth and the additional three-runway system consultancy and other related expenses incurred during the year.

“We are pleased to report another strong financial year in 2012-2013,” William Lo Chi-chung, executive director, finance of AAHK, said. “However, we expect that next year’s performance could be impacted by the stagnant economy in the Eurozone, the fragile global economic recovery and the gradual withdrawal of quantitative easing measures in the U.S., along with the combination of slower economic growth and liquidity concerns in mainland China’s financial sector. We will continue to exercise prudent financial discipline in view of this challenging environment.”

Hui said in addition to building the 48 parking stands, the airport is planning to add more stands.

“The faster-than-expected traffic growth underscores the increasingly pressing need to expand HKIA,” he said. “We will also implement other capacity enhancement initiatives to optimize the use of existing space and facilitate the smooth movement of passengers, cargo and aircraft. We are committed to addressing our long-term challenges in the most prudent and professional manner.”