Cathay Pacific Welcomes Policy Address Commitment to Enhancing Hong Kong's International Competitiveness

Cathay Pacific today welcomed the commitment made by the HKSAR Chief Executive, Mr Donald Tsang, in his Policy Address that the Government would actively take forward policy measures highlighted in the National 12th Five-Year Plan, and to develop modern logistics facilities to reinforce and enhance status of Hong Kong as an international centre for financial services, trade, shipping and logistics.

Cathay Pacific Chief Operating Officer Ivan Chu said: "We also look forward to the Airport Authority's recommendations to the Government on the way forward regarding the airport's future development, including the construction of a third runway.

"We firmly believe the third runway is the only viable option for maintaining Hong Kong's role as Asia's premier aviation hub. The aviation industry is a significant contributor to the Hong Kong economy, and the development of our aviation hub is crucial to Hong Kong's international competitiveness and long-term economic prosperity."

Cathay Pacific is making huge investments to underscore the airline's commitment to the Hong Kong hub, including 95 new aircraft on order for delivery up to the end of the decade with a list price of some HK$200 billion. In addition, Cathay Pacific's HK$5.5 billion air cargo terminal is scheduled for operation in 2013 and there are also other investments to enhance products and services.

Mr Chu added: "We also welcome the Policy Address' commitment to expand and diversify the tourism attractions in Hong Kong and to strengthen the status of Hong Kong as Asia's world city."