Cathay Pacific Welcomes Government Budget Initiatives

Cathay Pacific Airways welcomed the budget strategy set out today by the HKSAR Government's Financial Secretary, Mr John Tsang, which highlights the importance of strengthening Hong Kong's competitiveness as an international hub and improving the business environment to achieve continued economic growth.

Cathay Pacific Chief Executive John Slosar expressed his support for the Government's commitment to maintaining Hong Kong as a highly open international city with strong and extensive commercial ties to the world to ensure the free flow of people, goods, capital and information.

To maintain Hong Kong's position as a leading aviation hub, the airline believes that the development of a third runway at Hong Kong International Airport is the only viable way to ensure the city's long term competitiveness and sustainable development.

Mr Slosar said: "We are encouraged by the Financial Secretary's assurance that the Government is assisting Airport Authority Hong Kong to press ahead with a three-runway system. We look forward to the results of the Environment Impact Assessment, as well as the release of further information on the financing of the third runway.

"We also welcome the emphasis given to the promotion of high value-added logistics services to maintain Hong Kong as the world's leading international cargo hub. The Cathay Pacific Cargo Terminal at the airport became fully operational in October last year and we will continue to upgrade the facility to align with the industry's needs."

Cathay Pacific also agreed with the Financial Secretary that investment in people is of great importance. The issue of mismatched manpower needs to be addressed to maintain Hong Kong's competitive edge, as manpower shortage would hamper the development of industries.