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23 Feb 2011
Cathay Pacific Welcomes Budget Strategy and Commitment to Reinforcing Hong Kong's Role as Transport Hub

Cathay Pacific Airways welcomed the Budget strategy set out today by the Financial Secretary, Mr John Tsang, to continue to invest heavily in infrastructure, optimise the business environment, and enhance the competitiveness of the four pillar industries of Hong Kong - trading and logistics, financial services, business and professional services, and tourism.

The airline is also encouraged by the Financial Secretary's acknowledgement that "reinforcing Hong Kong's position as an international and regional transport hub is vital to our economic development", and that the Government will "continue to invest in transport infrastructure projects and optimise our highly efficient multimodal transport services, with a view to promoting the development of air, sea and land transport and logistics".

Cathay Pacific Chief Executive Tony Tyler said: "As Hong Kong's home carrier, Cathay Pacific is committed to enhancing the status of Hong Kong as a leading international aviation hub and the premier gateway into Mainland China for both passenger and cargo services. We are making significant investments in the Hong Kong hub through strengthening our international network, growing our environmentally friendly fleet, and building a new cargo terminal at Hong Kong International Airport (HKIA) that will substantially increase the cargo handling capacity of the airport.

"We are pleased that the Financial Secretary stressed the need to ensure that HKIA is equipped to cope with projected air traffic growth. We support the development of a third runway at HKIA, which we see as an urgent policy priority in the face of runway capacity constraints and growing competition from neighbouring hubs. We look forward to the roll out of the HKIA Master Plan 2030 Study."

Mr Tyler also welcomed the Government's plans to capitalise on the "China advantage" and would support Hong Kong's efforts in complementing the National 12th Five-Year Plan.

"We particularly welcome the Government's remarks on maintaining closer ties with the Mainland in order to facilitate cargo movements within the region. We hope this will lead to a simplified and more efficient flow of cargo transhipments," he said.