BHX Results
Given the financial results PK is clearly doing what he's paid to do, that is giving the shareholders increased profits, even at a time of difficult trading conditions. Thye'll be more than happy with that, even though most contributors to this forum wouldn't be.
However you can't go on relying upon cost reductions to deliver profit, as Pete has said and at some stage new business is going to have to be forthcoming if he (PK) is to deliver improved figures in the years to come.
Policy does appear to be to work "smart not hard" so I reckon any new business is going to come from airlines that actually want to pay to use the airport, rather than just chasing passenger numbers.