HK signs US$600m loan deal for third runway

Th e Airport Authority Hong Kong has signed a five-year, US$600 million evolving credit facility with 21 local and international banks participating, to help finance the expansion to a three-runway airport.


Th e Airport Authority Hong Kong has signed a five-year, US$600 million evolving credit facility with 21 local and international banks participating, to help finance the expansion to a three-runway airport. Jack So Chakkwong, the authority’s chairman, said a third runway is vital for HKIA’s cargo business, which handled 4.38 million tonnes in 2014 – a 6.0 per cent rise over the previous year.

For the first six months of 2015, cargo traffic at HKIA was mostly fl at, rising just 0.6 per cent, year-on-year. Cargo traffi c, HKIA added, has been impacted by the economic weakness in the Eurozone, while regional traffic ebbed due to the slowdown in Asian trade.