No one was injured as the marine-themed display ended up eight metres above ground after falling from its original 15-metre-high perch, with the cause believed to be a steel cable giving way.
Police said they were alerted at around 8.30 am about the incident involving the 1.5m by 1.5m installation and that there was no immediate danger.
Firefighters were on standby at the scene.
In a social media post, the Airport Authority said the installation’s fall-arrest system came into play during the malfunction and that the area was immediately cordoned off.
A maintenance team has further stabilised the installation, the authority said, adding that it would conduct a thorough investigation into the cause of the incident to further enhance the stability of the safety system.
“The Airport Authority is deeply concerned about the incident and will thoroughly probe the cause of the incident,” it said.