CHINA. Earnings at Beijing Capital International Airport (BCIA) bounced back to +2.2% growth year-on-year in the second half of 2003 after a downturn in the first half.
The increase in earnings was driven by the growth in passenger volumes at the end of 2003. That pattern has accelerated with numbers rising by +14% in the first two months of 2004.
BCIA chairman Wang Zhanbin said: “In August 2003, the total air traffic volumes of BCIA recovered to the same level as that of the corresponding period in the previous year, and then began to increase steadily.
“Based on the complete elimination of the impact of SARS, the company expects air traffic volumes… will maintain overall growth.”
BCIA reported a net profit of CNY283 million (US$34.2 million) in the second half of 2003, compared with CNY277 million (US$33.5 million) a year earlier.
However, in the first half of the year the company’s profit dropped -52% to CNY110.37 million (US$113.3 million). This was due to the SARS outbreak which hit Beijing particularly hard.
The airport’s passenger traffic for the year ended down -10.3% for the year compared to 2002.
Second-half year revenue rose +4.8% to CNY1.3 billion (US$157 million) after a -13.3% decline in the first six months of the year.
