Third runway at Hong Kong International Airport ‘going to be needed’ - Cathay Pacific
#76
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Airport cooperation doesn't work because all airports will eventually only seeking self-interest, promote self take-off/landing and pax traffic. I'm glad you mentioned EWR/LGA/JFK. One of the biggest complain for NYC government in the late 90s is that EWR gets "favored" treatment over JFK, and they are all run by the same Port Authority!!! It's not until NYC Representatives threaten to force Port Authority to pay up on back-rent up to hundreds of millions of dollars did the Port Authority decided to "invest and improve" JFK.
#77
Join Date: May 2009
Posts: 6,978
CX reiterates call for third runway
http://www.channelnewsasia.com/stori...137695/1/.html
Slosar thinks HKIA will run out of capacity by 7 to 9 years and not till 2040. Citing BA's inability to invest in London anymore because of capacity issues.
Slosar thinks HKIA will run out of capacity by 7 to 9 years and not till 2040. Citing BA's inability to invest in London anymore because of capacity issues.
#78
Join Date: Jan 2011
Posts: 2,323
The third runway will most likely be built, simply because I guess the Hong Kong Government hasn't had a strong track record in stopping economic development in the interest of environmental concerns, at least when it comes to the airport, I believe. What's at stake is simply too high for the Govt to ignore IMHO.
#79
Join Date: Jan 2011
Posts: 2,323
Cathay Pacific CEO John Slosar - who has been quite vocal during the process of debating a third runway for HKG, and rightly so - has just said that HKG should not be looking to reroute traffic to MFM, SZX or any other airport.
"People just don't like moving between airports."
Examples include airports at other world cities including New York and London.
Read the full story here: http://www.thestandard.com.hk/news_d...=20110623&fc=4
"People just don't like moving between airports."
Examples include airports at other world cities including New York and London.
Read the full story here: http://www.thestandard.com.hk/news_d...=20110623&fc=4
#80
Join Date: Jan 2010
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FFC Lunch Presentation
Here is a video of John Slosar talking about HKIA 3rd Runway, the talk took place at the FFC lunch presentation. The video is half and hour long. His talk is quite convincing, he goes on about how sending flights to other airports would not work.
http://www.youtube.com/watch?v=9lUXf1jfzJc
http://www.youtube.com/watch?v=9lUXf1jfzJc
#81
Join Date: May 2009
Posts: 6,978
Cathay Pacific CEO John Slosar - who has been quite vocal during the process of debating a third runway for HKG, and rightly so - has just said that HKG should not be looking to reroute traffic to MFM, SZX or any other airport.
"People just don't like moving between airports."
Examples include airports at other world cities including New York and London.
"People just don't like moving between airports."
Examples include airports at other world cities including New York and London.
Anybody that dreams of a major alliance between airports don't know how inconvenience and ridiculous that sounds.
#82
Join Date: Oct 1999
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Here is a video of John Slosar talking about HKIA 3rd Runway, the talk took place at the FFC lunch presentation. The video is half and hour long. His talk is quite convincing, he goes on about how sending flights to other airports would not work.
http://www.youtube.com/watch?v=9lUXf1jfzJc
http://www.youtube.com/watch?v=9lUXf1jfzJc
HK Airport Authority Last FY Net Profit Up 42% At Record HK$4.04 Bln 30 June 2011 HONG KONG (Dow Jones)--Airport Authority Hong Kong, which operates the city's international airport, said Wednesday its net profit for the fiscal year ended March 31 rose 42% to a record HK$4.04 billion (US$519 million) because of strong demand for air travel as the global economy recovered.
The airport operator's net profit was up from HK$2.84 billion in the previous 12 months. Its return on equity rose to 11.1% from 7.8% and its revenue increased 17% to HK$10.58 billion from HK$9.02 billion.
"Earnings growth in the near term is also expected to be tempered by slower traffic growth and the higher base that was created in fiscal 2011," Hui said.
The airport handled 51.5 million passengers during the period, up 9.7% from 47.0 million a year earlier, and cargo throughput rose 16.5% to 4.2 million metric tons from 3.6 million tons.
The unlisted government-owned airport authority said it would pay the Hong Kong government a dividend of HK$3.1 billion for the past fiscal year, down from HK$4.5 billion worth of ordinary and special dividends it paid in the previous fiscal year http://online.wsj.com/article/BT-CO-...29-702401.html
HONG KONG. Airport Authority Hong Kong (AAHK) revenues from retail licences and advertising surged by +22.8% in the financial year to 31 March, hitting HK$3.58 billion (US$460 million). The retail & advertising division accounted for 33.8% of group turnover in the year as overall revenues climbed by +24.9%. Passenger traffic rose by +9.7% year-on-year to 51.5 million.
http://www.moodiereport.com/category.php?id=36
BUT
Lower import tariffs threaten spend on luxury duty-free goods in Hong Kong 30 June 2011
A plan by the Chinese government to lower import tax on luxury goods may threaten the allure of duty-free goods for high-spending shoppers.
..............the Chinese Ministry of Commerce announced this week that it had reached agreement in principle to lower import tax in the hope of boosting domestic consumption.
Analysts have suggested the duty on certain luxury goods such as watches and gold could be cut to as little as 2% from current levels of 15-30%. And they predict a major knock-on effect on duty-free sales. Overall retail sales in Hong Kong rose 28% in April 2011.
One fashion supplier .... said that if the mainland tariff cut went ahead then it would severely impact Hong Kong duty-free retailers and upset those with development plans in progress. “I don’t know if DFS will rethink plans for their major new Causeway Bay store,” he said http://www.dfnionline.com/article/Ma...e-1861242.html
#83
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#84
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#85
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#86
Join Date: May 2009
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Not sure about HK politics, but in the US it's always the tax-payers that end up footing the bill (i.e. money coming out of Government tax revenues, General Fund.) Of course, the argument is that such improvements will bring great commerce to the city, and the residents will eventually benefit when foreign pax come to Hong Kong to live, eat, and spend. And in HKIA's case, I tend to agree.
#87
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Not sure about HK politics, but in the US it's always the tax-payers that end up footing the bill (i.e. money coming out of Government tax revenues, General Fund.) Of course, the argument is that such improvements will bring great commerce to the city, and the residents will eventually benefit when foreign pax come to Hong Kong to live, eat, and spend. And in HKIA's case, I tend to agree.
or in hk we can give the HKAA some land and get them to raise revenue by itself.
#88
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Not sure about HK politics, but in the US it's always the tax-payers that end up footing the bill (i.e. money coming out of Government tax revenues, General Fund.) Of course, the argument is that such improvements will bring great commerce to the city, and the residents will eventually benefit when foreign pax come to Hong Kong to live, eat, and spend. And in HKIA's case, I tend to agree.
But who knows.. I do agree that it will bring more commerce, but it will also bring more noise..
#89
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we have enough noise already. and any foreign tourist is always better the chinese variant
#90
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http://www.hongkongairport.com/eng/p...Statements.pdf
http://www.legco.gov.hk/yr04-05/engl...cb1-1591-e.pdf
the cost for the 3rd runway and terminal is estimated at HK$ 136.2 billion at projected future construction cost.
The HK airport total profit in the past year was HK$ 4.038 billion.
Perhaps a Flyertalk accountant can work out how long it would take the airport to repay the capital sum given depreciation / projected landing charge increase etc ?
A simplistic calculation would be 136 / 4 = 34 years by which time of course they would be out of capacity and would already need the 4th runway and by then Bao’An will probably have 6 runways and the SAR , given the completion date years hence +34 will be past its 2047 Mainland reunification date .
only FS John Tsang would rate that a good deal but he screwed up everything else already on his decision changing U turn Budget.