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25 Feb 2009
Cathay Pacific Welcomes Budget Initiatives on Infrastructure and Tourism

Cathay Pacific today welcomed the acknowledgement by the HKSAR Financial Secretary, Mr John Tsang, in his second Budget Speech of the need to cooperate further with our neighbouring cities in the Pearl River Delta ("PRD") region and the urgency to study and implement various major cross-boundary infrastructure projects, including the Hong Kong-Zhuhai-Macao Bridge, the Guangzhou-Shenzhen-Hong Kong Express Rail Link, and the Hong Kong-Shenzhen Airport Rail Link.

Cathay Pacific Chief Executive Tony Tyler said: "As the economies of Hong Kong and the Pearl River Delta become increasingly interdependent, we welcome cross-boundary infrastructure that will reinforce and promote their mutual growth.

"In the case of the Hong Kong-Shenzhen Airport Rail Link, I am sure the Financial Secretary is very conscious of its economic and financial viability as well as its practical benefits. While we see that the link would be beneficial for Hong Kong and Shenzhen, it would not remove the urgent need for a third runway at the Hong Kong International Airport. The Hong Kong hub is central to so much of our economy that we need to maintain the momentum in its capacity growth if we are to keep our competitive advantage against other hubs in the region."

Cathay Pacific also supports the government's efforts to promote medium and long-term development, strengthen our economic foundations and tap new opportunities during this difficult time through the 10 key infrastructure projects which are already under way. We agree that accelerating these projects where possible will be beneficial.

As Hong Kong's home carrier and one of its largest employers, Cathay Pacific supports the Government's initiatives to preserve jobs and promote training opportunities.

The airline will continue work with industry partners and mobilize our global network to complement the Government's efforts to promote the development of the tourism, convention and exhibition industries in Hong Kong.