HKIA March 2024: Passenger Traffic and Cargo Handling Show Resilience, Continuing Positive Trend

Hong Kong International Airport (HKIA) saw steady growth in March 2024, continuing its upward trajectory in both passenger numbers and cargo handling. While growth slowed slightly compared to earlier months, the overall performance remains positive, with year-on-year increases across the board.

Passenger Traffic: Strong, But Slower Growth

In March 2024, HKIA welcomed 4.36 million passengers, marking a 56.7% increase compared to March 2023, when the airport handled 2.78 million passengers. Though this is a significant rise, the growth rate is slower than the increases seen in February 2024 (96.5%) and January 2024 (100%). Over the past 12 months, HKIA has processed 45.2 million passengers, a remarkable 264.5% growth compared to the previous year.

This slight slowdown in growth is typical as travel patterns stabilize following the holiday season, but the numbers still reflect a robust recovery in international travel demand. In terms of passenger flight movements, HKIA recorded 22,345 in March 2024, a 66.6% increase from March 2023, which closely aligns with the growth in passenger traffic.

Cargo Handling: Modest Gains with Consistent Growth

March 2024 saw HKIA handle 428,000 tonnes of cargo, up 15.1% from March 2023, when 372,000 tonnes were processed. Unloaded cargo volumes grew by a modest 1.4%, a much smaller increase compared to the 12.8% growth in January 2024, and 23.1% in February 2024. This could indicate a tapering off of import demand.

On the other hand, loaded cargo continued to show solid growth, increasing by 21.2%, bringing the total to 312,000 tonnes for the month. This reinforces the trend of strong export demand seen earlier in the year. Over the past 12 months, HKIA handled 4.51 million tonnes of cargo, reflecting a 9.1% year-on-year increase.

Flight Movements: Steady Climb

March 2024 recorded 29,840 total flight movements, a 48.2% increase from March 2023. Passenger flight movements grew by 66.6%, with 22,345 flights compared to 13,411 in the same period last year. Cargo flight movements also continued their steady rise, with a 12.7% increase in March 2024, slightly slower than the previous month’s 11.9% growth. This steadiness in flight movements demonstrates the consistent recovery in both passenger and cargo operations at HKIA.

Comparison to January and February 2024:

• Passenger Traffic: While March saw 4.36 million passengers, this represents a slower growth rate compared to 4.215 million in February and 4.14 million in January. The post-holiday normalization in travel patterns could explain this, but the overall year-on-year increase remains robust.
• Cargo Handling: March saw 428,000 tonnes of cargo handled, slightly higher than February’s 324,000 tonnes but lower than January’s 377,000 tonnes. Loaded cargo continued to grow steadily in March, with a 21.2% increase, slightly lower than the 23.1% rise seen in February.
• Flight Movements: March’s 29,840 total flight movements were similar to February’s 27,615 and January’s 28,755. The consistency reflects stable recovery in both passenger and cargo flights.

Conclusion:

March 2024 continues the strong performance for HKIA, with steady growth in both passenger traffic and cargo handling, despite a slight deceleration in month-to-month increases. The airport remains a crucial hub for international travel and trade, showing resilience as it rebounds from pandemic-related setbacks.

Looking ahead, the consistent growth in passenger and cargo volumes positions HKIA for further recovery, as demand for global travel and logistics services remains strong. The aviation industry is watching closely as HKIA solidifies its role in connecting Asia to the rest of the world, with encouraging trends expected to continue into the second quarter of 2024.