HAECO Welcomes HKSAR Government Approval of Three-runway Option for Development Planning

Hong Kong Aircraft Engineering Company Limited ("HAECO", Stock Code: 00044) welcomes the HKSAR Government's in-principle approval to adopt, for planning purposes, the three-runway option as the future development direction for Hong Kong International Airport (HKIA).

Mr. Augustus Tang, Chief Executive Officer of HAECO, said: "We strongly believe the third runway will benefit a long term growth of the airport and hence uphold Hong Kong's position as the leading regional and international aviation centre, strengthening Hong Kong as a centre of excellence for aeronautical engineering."

HAECO acknowledges concerns of the environmental impacts in building the third runway. The company is committed to reducing the impact of its operations on the environment by reducing energy consumption and greenhouse gas emissions.

Mr. Tang added: "As an integral part of the HKIA, HAECO is delighted to see long term growth of the airport, which will give rise to HAECO's continued development. We welcome the HKSAR Government's approval of the three-runway option as basis for development planning. We are confident that economic benefits and environmental considerations will be prudently balanced."

About Hong Kong Aircraft Engineering Company Limited ("HAECO")
HAECO is one of the world's leading aeronautical engineering groups providing a comprehensive range of services encompassing Airframe Maintenance, Cabin Reconfiguration / Integration Services, Cabin Completion Centre / Design Engineering, Freighter Conversion, Parts Manufacturing, Line Maintenance, Fleet Technical Management, Inventory Technical Management, Component Services, Engine Overhaul and Technical Training. The HAECO Group consists of 16 subsidiaries and affiliates, employing over 14,000 staff in Hong Kong, Mainland China, Singapore and Bahrain. HAECO is publicly listed on the Hong Kong Stock Exchange (Stock Code: 00044). HAECO's website: www.haeco.com