July 14, 2008

Airport Passenger Throughputup 5%

According to news.gov.hk: Passenger throughput at Hong Kong International Airport rose 5% on a year earlier, to 4.1 million, while cargo traffic grew 2.4%, to 312,000 tonnes and air-traffic movements grew2.7%, to24,825, the Airport Authority says. While visitor traffic experienced a slowdown in June, growth in travel by Hong Kong residents and transfer/transit passengers was relatively more encouraging. Import/export cargo momentum showed signs of slowing in June and the overall 2.4% growth was mainly driven by transshipment to and from the Mainland and North America. The slower growth in air cargo was largely in line with the reduction in foreign trade between the Mainland and its trading partners in the month. Noting high fuel prices and volatilities in the financial market will likely continue, the authority's Chief Executive Officer Stanley Hui said there is an increasing tendency for airlines to meet the fuel cost hike challenge through both route and capacity rationalistion and fare rises, including fuel surcharges. "Demand for air travel would be put to test in the higher fare environment. Higher cost of airfreight will also drive less time-sensitive shipments to sea freight. Given the latest market outlook, both passenger traffic and cargo volume will likely see lower growth this year," he added. For the first half of this year, passenger volume, cargo traffic and aircraft movements rose 7.3%, 6.8% and 4.6% over the same period last year, to 24.4 million, 1.8 million tonnes and 149,890. For the 12 months ended June 30, the airport handled 49.5 million passengers, 3.9 million tonnes of cargo and 301,980 air- traffic movements, representing year-on-year increases of 7.8%, 7% and 5.4%.

Originally published by Info-Prod Strategic Business Information.

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