"Aviation Sector Will Soar Again After Trying Times"

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2022-10-18 HKT 15:29

Share this story

facebook

  • "Aviation sector will soar again after trying times"

Transport minister Lam Sai-hung on Tuesday tipped the aviation sector to reach new heights and recover from the "most trying times" it experienced during the pandemic as he kicked off a major expansion of the SAR's main facility for business jets.

Speaking at a groundbreaking ceremony for the $400mn development at the Hong Kong Business Aviation Centre (HKBAC), Lam said the government had taken steps to reopen the SAR and hailed a recent increase in air traffic. He said the sector could boost its development by tapping into growth in demand for business aviation in the Greater Bay Area.

“Past experience points to the resilience of the aviation market, so we believe that a strong rebound is on the horizon for Hong Kong's aviation industry as a whole. That makes the expansion of the HKBAC today a timely investment in the bright future that our aviation sector is to welcome,” he said.

Lam said Hong Kong's aviation sector had already been given a "vote of confidence" by the central government that would help the industry unleash its potential.

“Both the National 14th Five-Year Plan and the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area have clearly indicated support for Hong Kong to consolidate and enhance its role as an international aviation hub, “ he said.

Officials at the centre said they'd seen the number of flights double since last month, when the administration abolished hotel quarantine for people arriving in the SAR. They said forthcoming international events were also boosting traffic.

Sheree Cheung, the centre's director of administration and business development, said it was welcoming as many passengers from the mainland as from overseas, and she hoped the easing of border controls would further increase the number of mainland travellers.

“In the past, the [number of] international and mainland guests are comparable. [The two] are similar. International guests need to visit the Asia headquarters through Hong Kong to invest in the mainland, or vice versa – where mainlanders make international investment [trips] through Hong Kong. Hong Kong is a convenient transit station,” she said.

Madonna Fung, the centre's general manager, told reporters that the expansion would consolidate Hong Kong's status as an international aviation hub, and take advantage of its "dual gateway" role in connecting the mainland and the rest of the world.

The work will double the handling capacity of the facility and increase space available in the executive terminal three-fold.

RECENT NEWS

Ant International And Bank Of China Partner To Enhance Cross-Border Payment Connectivity

Ant International and Bank of China (Hong Kong) (“BOCHK”) announced a partnership which leverages BOCHK’s banking... Read more

BitGo Korea Gets Green Light For Virtual Asset Custody, Backed By SK Telecom

BitGo Holdings, Inc. (BitGo) announced that its subsidiary, BitGo Korea, Inc. (BitGo Korea), received its Virtual Asset... Read more

Webinar: When Account Takeover Moves Past Onboarding

Account takeover shows why fraud risk cannot be treated as an onboarding problem. Fraudsters are using stolen credentia... Read more

JCB To Trial Stablecoin Payments In Japan With Digital Garage And Lawson

JCB Co., Ltd. (JCB), Digital Garage, Inc. (Digital Garage), and Lawson, Inc. (Lawson) announced that they have jointly ... Read more

Bonnie Chan To Lead HKEX Until Feb 2030 After Securing Second Term

The HKEX Board of Directors has approved the renewal of the employment contract of Hong Kong Exchanges and Clearing Lim... Read more

Ripple Signs Its First Korean Regional Bank In Cross-Border Remittance Deal

Ripple, a blockchain-based enterprise solutions provider for traditional and digital finance, announced a partnership w... Read more