Hong Kong Finance Chief Hails Cathay Pacific's HK$150 Billion Pledge as Vote of Confidence in City's Future

Stock News
Yesterday

At the 80th anniversary gala dinner of Cathay Pacific (00293) held today (September 15), Hong Kong's Financial Secretary Paul Chan delivered a keynote speech highlighting the airline's deep-rooted partnership with the city. He noted that Cathay Pacific, which has evolved from operating its first DC-3 aircraft to now commanding a vast global network, embodies Hong Kong's spirit of innovation, boldness in exploration, and outward-looking vision.

Chan emphasized that Cathay Pacific's substantial investment commitment of approximately HK$150 billion serves as a powerful testament to its confidence in Hong Kong's future. He expressed anticipation for the airline to pair its premium services with "more attractive pricing" to benefit consumers.

Regarding the nation's "15th Five-Year Plan" explicit endorsement of Hong Kong's role in consolidating and enhancing its status as an international aviation hub, Chan outlined the government's strategic approach. Hong Kong authorities will work in tandem with the three-runway system, the new Terminal 2 facilities, and the "Airport City" development, while proactively expanding air services agreements and traffic rights. This includes strengthening connectivity with the Middle East, Central Asia, Africa, and South America.

The Financial Secretary also welcomed Cathay Pacific's planned direct flight service to Almaty, Kazakhstan, scheduled to launch in January 2027, which is expected to bolster commercial, tourism, and cultural exchanges between the regions. He encouraged the airline to continue exploring additional new destinations to further expand its route network.

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