News
Hong Kong government throws lifeline to local aviation
April 9th 2020
The Hong Kong government has announced a HKS$137.5 billion (US$17.74 billion) rescue package for the Special Administrative Region (SAR) that includes HK$2 billion in funds for airlines and aviation support services. Read More »
Hong Kong’s Airport Authority (AA) will buy 500,000 air tickets from Hong Kong’s four local airlines, Cathay Pacific Airways, Cathay Dragon, HK Express and Hong Kong Airlines, it announced on April 8. The tickets will be given away to international visitors and Hong Kong residents when the SAR’s market recovery campaign is launched.
AA also will buy ground service equipment from local operators to improve their cash flow and provide a rent free period for the equipment after purchase. Eligible companies, who can apply for funding support on a voluntary basis, are those categorised as vital for airline and airport operations, including MRO companies, ground handlers, catering and fuel suppliers.
In March, AA announced a HK$1 billion funding scheme. It included a five-month waiver on aircraft parking fees and fee forgiving for the same months for idle air bridges. Under the scheme, airlines also will be eligible for a 40% reduction in passenger airliner landing fees for four months.
