Nation

Major Investment: Airport Authority Hong Kong Acquires 35% Stake in Zhuhai Airport Worth RMB4.3 Billion!

2024-11-29

Author: Ming

A New Era of Cooperation

This pivotal agreement seeks to bolster cooperation between Hong Kong International Airport (HKIA) and Zhuhai Airport while fostering the development of an airport cluster within the Greater Bay Area (GBA). The partnership is poised to enhance the operational synergies between both airports, ultimately contributing to the growth of the regional aviation industry.

As part of this expanded collaboration, the Hong Kong-Zhuhai Airport Management Company, a subsidiary of AAHK, will extend its management rights over Zhuhai Airport until 2046. This long-term commitment underscores AAHK's dedication to improving operational efficiency, service quality, and management standards, a partnership that began in 2006.

Zhuhai Airport's Growing Traffic

Zhuhai Airport has seen a remarkable increase in both passenger and cargo traffic, processing over 11 million passengers in 2023 alone. This impressive figure ranks the airport 35th among all airports in mainland China and third in Guangdong province, trailing only the major hubs of Guangzhou Baiyun Airport and Shenzhen Bao'an Airport.

To accommodate this growing demand, Zhuhai Airport is undergoing an ambitious expansion plan. A new Terminal 2 is set to open by 2025, significantly increasing its capacity to handle over 27 million passengers annually.

Seamless Travel Experience

The collaboration isn’t just about numbers; it’s about enhancing the travel experience too. AAHK and Zhuhai Airport recently launched the innovative Fly-Via-Zhuhai-HK service in December 2023. This groundbreaking service facilitates a seamless air-to-bridge-to-air transfer between HKIA and Zhuhai Airport, allowing passengers traveling from various mainland cities to conveniently switch modes of transport via the Hong Kong–Zhuhai–Macau Bridge to access HKIA's extensive global flight network.

Future Developments on the Horizon

Both airports are also planning to establish a high-end aviation industrial park aimed at amplifying the growth of the aviation sector in the GBA and enhancing regional competitiveness. This initiative promises to create new job opportunities and stimulate economic growth, providing further incentives for international airlines and businesses to establish operations in the Greater Bay Area.

Key Figures in the Signing Ceremony

The landmark agreement was officiated by Vivian Cheung, acting CEO of AAHK, and Chen Weijia, chairman of Zhuhai Transportation Holdings Group, in the presence of prominent stakeholders, including Huang Zhihao, the mayor of Zhuhai Municipal Government, and Fred Lam, chairman of AAHK.

In a statement, Lam expressed gratitude for the strong support from the Central and Guangdong Provincial Governments, emphasizing that this acquisition will enhance connectivity for travelers in the GBA and contribute to a more robust passenger and cargo throughput for Zhuhai Airport.

Conclusion: A Skyward Journey

With this strategic investment, AAHK is not only enhancing its portfolio but also laying the groundwork for a stronger interconnected future in aviation throughout the Greater Bay Area. As the aviation sector rebounds post-pandemic, this partnership stands as a testament to the region's commitment to innovation and collaboration, promising an exciting future for both airports and their passengers. Stay tuned for more developments as this story unfolds!