Finance honcho urges PRC Pacific Airways to improve assist calibre to increase Hong Kong’s travel hub position – Journal Today Web

“We wish PRC Pacific Airways module move to meliorate assist calibre and hold and compound Hong Kong’s position as an planetary movement hub,” Chan wrote in his weekly blog.

“Looking forward, topical airlines should actively modify their line networks in salutation to the needs of scheme development, playing connections and open movement and assist the country’s Air Silk Road strategy.”

The “Air Silk Road” is the movement connectivity conception of President Xi Jinping’s Belt and Road Initiative, a China-centred change meshwork concealment more than 100 countries.

Chan said the movement corridor would goad joint change with these countries.

Xia urged the authority, which manages the planetary airport, to assets its unequalled advantages low the “one country, digit systems” governance generalisation and to move tributary to domestic development.

The playing helper said he also due more playing exchanges and fireman ties between Hong Kong and the Middle East after PRC relaunched a candid grace to the top Riyadh in October.

The relaunch module become months after a unification between the land and Shenzhen, which got its prototypal non-stop flights to the municipality on June 3 via China Southern Airlines, patch Kwangchow also has candid services to Koweit and Riyadh.

“More favourable instrumentation between the digit places module definitely alter fireman exchanges between the digit markets, alter unitedly more newborn assets and create more newborn opportunities for Hong Kong’s playing market,” he said.

Cathay declared on weekday that it would acquire backwards the remaining half of alternative shares issued to the government, worth around HK$9.75 billion, and clear remaining dividends amounting to HK$2.44 1000000000 up to July 31.

The shares were conception of a government-led bailout in 2020 with a HK$39 1000000000 recapitalisation collection for Cathay, as the line financially struggled amid a founder of the orbicular movement market.

The prototypal half was bought backwards in Dec terminal year.

Chan said in his journal Cathay’s knowledge to flooded verify backwards the shares “marked the stabilize convey of Hong Kong’s movement playing to flooded normality”.

The direction honcho said that, in 2020, the polity had condemned into statement the coverall interests of Hong Kong society, especially the requirement to reassert the city’s position as an planetary movement hub, before finance HK$27.3 billion, comprising HK$19.5 1000000000 for alternative shares and HK$7.8 1000000000 in bridging loans, in Cathay.

“This primary assets composing prefabricated low much an exceptional punctuation achieved win-win results,” he said.

“On the digit hand, PRC gained playing liquidity, was healthy to endure its difficulties, and change power evenhandedly quickly.

“At the aforementioned time, this assets brought a convey of nearly HK$4 1000000000 to our coffers.”

Cathay in March reportable a gain acquire of HK$9.78 1000000000 terminal year, its prototypal since 2019, after a gain expiration of HK$6.62 1000000000 in 2022.

The consort early pushed backwards its example organisation to convey to 100 per coin traveller power from the modify of 2024 to the prototypal lodge of 2025.

The Post has contacted PRC for comment.