"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

SFC Report Unveils Major Cybersecurity Breaches Among Licensed Corporations

Hong Kong’s Securities and Futures Commission (SFC) SFC Thematic Review Report has flagged significant cybersecurity ... Read more

Hex Trust Secures Morgan Creek Digital Investment, Total Capital Hits US$100M

Hex Trust, a digital asset financial services company specialising in custody, staking, and market services, announced ... Read more

Hong Kong Green Fintech Growth Part Of Steering Groups 2025 Top Targets

The Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) met on 6 February 2025 to outline its ke... Read more

Ant International Appoints Jiang-Ming Yang As Chief Innovation Officer

Ant International has appointed Jiang-Ming Yang as Chief Innovation Officer (CIO), effective immediately. In this role,... Read more

CoinBest Rebrands To OSL Japan, Strengthening Commitment To Digital Assets

OSL Group (863.HK), a publicly listed digital asset company, announced the renaming of CoinBest K.K. (CoinBest) to OSL ... Read more

Weixin Cross-Border Payments Surges To 134% During The Spring Festival

Weixin shared its latest data on cross-border payments, international user activity, and Mini Program usage during the ... Read more