HONG KONG, CHINA. Airport Authority Hong Kong (AAHK) has reported a +18.7% year-on-year increase in retail and advertising revenues, reaching HK$4,674 million (US$595.4 million) for the financial year ended 31 March, underpinned by strong growth in passenger traffic.
Retail revenues remain 20.7% below pre-pandemic levels recorded in FY2019/20.
The figure is equal to 28.5% of total income, according to AAHK’s newly published Annual Report 2024/25.
It represents rents and fees payable to AAHK by licensees providing retail services (primarily duty-free and other shops), food & beverage outlets and advertising at Hong Kong International Airport.
The airport company reported solid financial growth, with revenue up sharply +20% to HK$16,404 million (US$2.09 billion) and EBITDA rising +36.3% to HK$7,365 million (US$938 million), while profit reached HK$2,457 million (US$313 million).
The strong financial performance reflects the ongoing recovery of air travel at Hong Kong Airport, supported by a sharp rise in passenger numbers and flight movements. During the year, the airport recorded 54.9 million passengers and 373,050 flight movements, marking sharp year-on-year increases of +21.6% and +20.5%, respectively.
The airport company elevated the passenger experience through store renovations, an expanded brand portfolio and customer-focused services.
Key upgrades included refreshed liquor, tobacco, perfume and cosmetics outlets, alongside halal-friendly dining and the launch of HKIA Dollar and the Gift Card.
The retail mix expanded with new categories such as art toys, children’s books, gaming and entertainment, sustainable groceries, single-brand beauty, and consumer tech. Dining was also enhanced with baked goods, ice cream, gelato and speciality coffee.
Hong Kong International Airport continued to strengthen its global network during the fiscal year, with 27 airlines introducing new routes or expanding services across 56 destinations. By year-end, approximately 140 airlines connected the airport to more than 200 global destinations.
AAHK highlighted its ongoing investments, most notably the Skytopia, a project that integrates commercial activities, popular culture, art trading, entertainment and leisure.
The launch event on 16 January showcased the development potential and investment opportunities at Skytopia with themed exhibition zones introducing the major projects.
AAHK Chairman Fred Lam said, “The past year was pivotal for HKIA as we crossed key milestones and air traffic continued its solid recovery.
“The Three-runway System was commissioned on time and within budget in November 2024, boosting the airport’s annual capacity by +50% and strengthening our status as one of the world’s largest and most important aviation hubs.
“We have also laid the groundwork for realising our strategic vision of transformation from a city airport into an Airport City, with the extended development blueprint unveiled under a new brand, Skytopia, which received positive market response.
“I am glad that our achievements and vision for the future enjoy increasing support from different sectors of the community. Though we are facing global economic uncertainties, we are confident in the future of Hong Kong’s aviation industry and the Airport City development.” ✈
