Hong Kong finance chief urges Cathay to keep fares attractive, add routes

Hong Kong's finance chief, Paul Chan Mo-po, urged Cathay Pacific Airways to maintain competitive fares and expand its route network during the airline's 80th anniversary celebration. Chan emphasized that the airline serves as a global ambassador for Hong Kong, reinforcing the city's status as a key aviation hub. He stressed that each new route brings trade, investment, and economic opportunities, especially crucial in a volatile global climate.

Chan highlighted that the three-runway system at Hong Kong International Airport, now fully operational, provides more capacity for growth. The government is pursuing new air services agreements and expanded traffic rights in markets like the Middle East, Central Asia, Africa, and South America. Chan encouraged Cathay to take advantage of these opportunities and add new destinations to its network.

At the event, Cathay Group chairman Guy Bradley noted that the airline now serves more than 100 destinations worldwide, including 24 in mainland China. Bradley announced plans to expand into more Belt and Road Initiative destinations, with a target of 150 new aircraft and 150 worldwide destinations in the next decade. Chan acknowledged the airline's past challenges, referencing the HK$39 billion government recapitalization package during the Covid-19 pandemic.

He credited the airline's professional, persevering, and dedicated workforce for turning the recovery into a success. Chan reiterated that every new route is an opening for trade, investment, and opportunity, reinforcing the airline's role as a "superconnector" in Hong Kong. The airline's commitment of HK$150 billion to investments in aircraft, cabins, lounges, and digital innovation reflects confidence in Hong Kong's future, according to Chan.

The 15th five-year national plan explicitly supports Hong Kong in consolidating and enhancing its status as an international aviation hub, Chan added.