"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

HKMA Pushes Project Ensemble, Banks To Adopt Tokenised Deposits

The Hong Kong Monetary Authority (HKMA) will advance Project Ensemble and encourage commercial banks in the city to int... Read more

Singapore And Hong Kong Regulators Deepen Cooperation On Bank Oversight

The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) have signed a Memorandum of Under... Read more

XTransfer, SPD Bank Shanghai Partner To Boost Cross-Border Trade For SMEs

XTransfer has entered into a strategic partnership with SPD Bank’s Shanghai Branch, announced at the “XTransfer Tra... Read more

PayPay To Be Accepted At Over 2 Million Merchants In South Korea Via Alipay+

From late September 2025, Japan’s largest cashless payment service, PayPay, will be accepted at more than two million... Read more

Lenovo Hong Kong And Cyberport Partner To Support Startups

Lenovo Hong Kong has announced the signing of a MoU with Cyberport, aimed at supporting Hong Kong’s innovation and te... Read more

PAObank Partners With CPAIHK To Integrate Banking And Insurance Services

PAObank, in which Ping An Insurance holds a stake, is marking its fifth anniversary with a new strategic partnership wi... Read more