HAECO Breaks Ground for Third Hangar in Hong Kong

Hong Kong Aircraft Engineering Company Ltd. (HAECO) held a ground-breaking ceremony today to mark the start of construction of its third aircraft maintenance hangar at Hong Kong International Airport (HKIA).

At an investment of HK$670 million, the world-class 16,000 square-metre facility will be able to simultaneously accommodate two wide-bodied aircraft and one nose-in aircraft to provide a total of three Boeing 747 sized aircraft maintenance positions. Scheduled for full operation in June 2009, the new hangar will allow a 33% increase in annual heavy maintenance capacity at HKIA, and will result in the creation of 350 skilled new jobs in Hong Kong.

HAECO opened its second hangar at HKIA in December last year. The facilities in operation at present are able to accommodate eight aircraft maintenance positions.

Secretary for Transport and Housing of the HKSAR Government Ms. Eva Cheng and Airport Authority Hong Kong Chief Executive Officer Mr. Stanley Hui officiated at today's ground-breaking ceremony with HAECO's Chairman Mr. Christopher Pratt, and Deputy Chairman and Chief Executive Officer Mr. P.K. Chan.

"For more than half a century, Hong Kong has been regarded as one of the safest aviation ports in the world. Reliable and comprehensive services of HAECO are an important contributing factor to our excellent track record," said Ms. Cheng. "The investment in the third hangar demonstrates HAECO's strong confidence in its line of business as well as in the future development of Hong Kong as a premier aviation hub," she added.

"Heavy aircraft maintenance is a globally competitive business, and one in which HAECO and Hong Kong have together developed a sound reputation for quality and on time delivery. In addition, the growing economy of the Pearl River Delta region has itself continued to fuel air traffic growth in Hong Kong, resulting in a rising demand for aircraft base maintenance services. The construction of the third hangar in Hong Kong will provide needed capacity to meet the robust demand for heavy maintenance work from our customers' expanding fleet," said Mr. Pratt. "The fact that we commence construction of a new facility at HKIA in less than ten months since we opened our second hangar underlines our commitment to upholding Hong Kong's position as a leader in world-class aircraft maintenance services,' he added.

HAECO is one of the world's leading aeronautical engineering groups, and is currently the only full service provider to commercial aircraft transiting Hong Kong International Airport, offering a comprehensive package that includes full technical certification, line maintenance, airframe heavy checks, major structural modifications, repair, overhaul, and painting, as well as overhaul capability on a wide range of avionics and mechanical components. In addition to its scheduled base maintenance customers, the company provides round-the-clock ramp handling and maintenance services for over 60 major airline customers, handling an average of 90,000 movements a year. HAECO is publicly listed on the Hong Kong Stock Exchange (stock code : 00044).

Fact Sheet

Hong Kong Aircraft Engineering Company Limited (HAECO)
Third Hong Kong Hangar