In its first interim results announcment, Airport Authority Hong Kong revealed strong growth in turnover and profit attributable to shareholder for the six months ended 30 September 2006 on 29 November this year. The unaudited results, which were approved by the Airport Authority's Board of Directors, also included solid growth in passenger and cargo throughput.

Compared with the six months ended 30 September 2005, turnover rose 9.2%, to HK$3,814 million, EBITDA (Earnings before interest, taxes, depreciation and amortisation) increased 9.6%, to $2,394 million, and profit attributable to shareholder grew 13.2%, to $993 million. Total passenger volume rose 9.2%, to 22.7 million, cargo throughput grew 3.5%, to around 1.8 million tonnes, and aircraft movements increased 6.0%, to 140,700.

"During the period, we achieved a breakthrough on the Mainland with the conclusion of a joint venture with the Zhuhai Municipal Government that will see us manage Zhuhai Airport for 20 years. By making the Airport Authority an insider in the Mainland aviation system, the agreement is also a key step in our long-term strategy of supporting the coordinated development of a Pearl River Delta (PRD) airport system so as to better serve the PRD region," observed Airport Authority Chief Executive Officer, Dr David J Pang.

Three new cargo carriers-Volga-Dnepr Airlines, Royal Khmer Airlines and ACT Airlines -and one passenger airline, Air Niugini, began serving Hong Kong International Airport (HKIA) during the period, boosting the total number of airlines operating at HKIA to 85. A total of 5 new destinations, including Taichung, Chiang Mai, Krasnoyarsk, Port Moresby and Stockholm, were added to HKIA's network, bringing the total to around 150.

The announcement marks the first time the Airport Authority has released interim results. Finance Director Raymond Lai said, "The Airport Authority is committed to delivering timely, accurate and useful information to our stakeholders. The announcement reflects our commitment to good corporate governance, transparency and financial discipline."

Mr Lai added that he expects the six months ended 31 March 2007 will see increased operating expenses with the phased opening of HKIA's Terminal 2/SkyPlaza, which is scheduled to begin in early 2007.

To view the Airport Authority Hong Kong's Interim Report, please go to http://www.hongkongairport.com/eng/aboutus/report/interim/2006.pdf.