ASIA Travel Tips.com

Hong Kong Airport Launches HK$450 Million Relief Package

Search ASIA Travel Tips .com Latest Travel News Send to Friend Tuesday, 28 April 2009

The Board of Hong Kong's Airport Authority (AA) has created a relief package of HK$450 million to assist airlines and other operators whose business at Hong Kong International Airport (HKIA) has been adversely affected by the global economic downturn. The relief package comprises $200 million worth of reductions in charges and $250 million interest-free, deferred payments, starting April 2009.

Airlines operating at HKIA are being offered a 10% reduction in both landing and parking charges till the end of 2009, amounting to savings of about HK$200 million. Also, to alleviate cash flow issues during the recession, 50% of rental payments for airline lounges, office premises, counters and storage can be deferred for up to one year and repaid by interest-free installments from April 2010 onward. If all business partners apply to defer 50% of their rental payments, the total amount will reach approximately $250 million.

The majority of retailers and caterers at HKIA pay the AA a licence fee according to a mechanism that allows fee adjustments based on airport passenger volume. According to the mechanism, licensees pay less as passenger throughput declines. The average licence fee has dropped by about 4% over the last few months.

Stanley Hui Hon-chung, Chief Executive Officer of the Airport Authority, said that HKIA has been suffering from the flagging global economy.

 HKIA's traffic volumes started declining in August 2008, with the first quarter of 2009 showing year-on-year decreases in passenger throughput, cargo volume and aircraft movements of 7.1%, 22.8% and 6.6%, respectively.

In response, the AA began implementing a series of cost control measures - including headcount freezes - in the last quarter of 2008.

 Mr Hui said, "The operating environment facing the global aviation industry is expected to remain challenging for the rest of 2009. We intend to ride out the recession with our business partners by introducing relief measures that are reasonable, responsive and within our means."

"The reduction of both landing and parking fees will help airlines at HKIA reduce operating costs," explained Mr Hui. "Meanwhile, the ability to defer rental payments will help our business partners deal with liquidity issues in a troubled operating environment. We hope the relief measures will help airlines better able to maintain their flight schedules at HKIA in support of our efforts to maintain HKIA as a regional and international aviation centre."

In 2000, the Airport Authority reduced both landing and parking charges at HKIA by 15%. The reduction has remained effective since then.

See other recent news regarding: Airlines, Aviation, Flights, First Class, Business Class, GDS, Miles, Hotels, Promotions, New Hotels, Visitor Arrivals, Cruises, Free Deals, Hong Kong, Airports, Hong Kong Airport

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address above, or return to the Latest Travel News Asia main page to see all the latest headlines. You can also stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Exclusive HD video interview with the General Manager of The Ritz-Carlton, Bali, Mr. Karim Tayach. In this HD video interview, filmed on the side lines of the AAPA Assembly of Presidents at  The Ritz-Carlton, Bali, we sat down with Ilya Gutlin President, Asia Pacific of SITA to learn more about the company and the future of air travel. Exclusive HD video interview with Mr. Luc Bollen, General Manager of The Park Lane Hong Kong, a Pullman Hotel.
The Ritz-Carlton, Bali Future of Aviation The Park Lane Hong Kong
Aviation Industry Update at AAPA 2015 in Bali.  Andrew Herdman is the Director General of the Association of Asia Pacific Airlines (AAPA) and this is the presentation he gave to a few select aviation journalists at The Ritz-Carlton, Bali on 12 November the day before the General Assembly of Presidents. Exclusive HD video interview with Air Macau's Chairman of the Board and President of Executive Committee, Mr. Zheng Yan Exclusive HD video interview with the General Manager of the JW Marriott Hotel Macau, Mr. Brian Tong.
Aviation Industry Update Air Macau's Chairman JW Marriott Macau
Exclusive HD video interview with Mr. James Mabey, Senior Vice President Development Asia Pacific for the Jumeirah Group Exclusive HD video interview with Ms. Titiya Chooto, General Manager of Anantara Siam Hotel (formerly the Four Seasons Hotel Bangkok). Exclusive HD video interview with Mr. Jonathan Wigley, Founder and CEO of one of Thailand's most successful hotel management and ownership companies.
Jumeirah Group Anantara Siam Bangkok Absolute Hotel Services
This HD video tour of Thai AirAsia X's brand new 337-seat Airbus A330-300 aircraft was filmed at Don Mueang Airport in Bangkok, Thailand on 14 May 2014 Exclusive HD video interview with Mr Wayne Mak, Managing Director of Rhombus International Hotels Group HD video of the interior and exterior of a Thai Vietjet Airbus A320-200.
Thai AirAsia X A330-300 Rhombus Int. Hotels Group Thai Vietjet A320-200
An exclusive HD video interview about the elegant Airbus A350 XWB with David Velupillai, Marketing Director for Airbus Corporate Jets at Singapore Airshow 2014 A very brief glimpse into one woman's amazing journey sailing from California to Terengganu in Malaysia ATR Demonstrates 72-600 Flight Simulator During Singapore Airshow 2014
Airbus A350 Sailing from California to Malaysia ATR Simulator
Inside Qatar Airways Boeing 787-8 Dreamliner - HD Video It takes 800 workers between 65 and 80 days to assemble, install, test, paint, furnish and deliver an Emirates Airbus A380. Showers, Bars, Lounge - The Emirates Airbus A380 Has Them All - HD Video Tour Thai Airways International Takes Delivery of Brand New Boeing 777-300ER
Qatar Airways B787 Emirates A380 Thai Airways B777-300ER
Latest Travel News
Advertising
Advertising
Copyright © 1997-2016 ASIATravelTips.com/TravelNewsAsia.com