Source: Airport Authority Hong Kong Author: 07/13/2008
Subject Concerned: Cargo Airport
Passenger throughput at Hong Kong International Airport (HKIA) reached 4.1 million in June 2008, representing a 5% rise over June 2007. Cargo traffic increased 2.4% to 312,000 tonnes and air traffic movements went up 2.7% to 24,825.
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 down in June and the overall 2.4% growth was mainly driven by transshipment to and from the Chinese Mainland and North America. The slower growth in air cargo was largely in line with the reduction in foreign trade between China and its trading partners in the month.
"High fuel prices and volatilities in the financial market will likely continue. There is an increasing tendency for the airlines to meet the fuel cost increase challenge through both route and capacity rationalistion and fare increases, including fuel surcharges. Demand for air travel would be put to test in the higher fare environment," said Stanley Hui Hon-chung, Chief Executive Officer of Airport Authority Hong Kong.
"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," added Mr Hui.
For the first half of 2008, passenger volume, cargo traffic and aircraft movements rose by 7.3%, 6.8% and 4.6% over the same period last year, to 24.4 million, 1.8 million tonnes and 149,890, respectively. For the 12 months ended on June 30, 2008, HKIA 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%, respectively.