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New cargo terminal set to cement HK hub status
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Cathay Pacific Airways has officially launched a new cargo terminal at Hong Kong airport which will help the city, facing fierce rivalry from Shanghai’s Pudong International Airport, enhance its position as the leading airfreight hub.
Cathay Pacific Services Ltd, a wholly-owned cargo subsidiary of Hong Kong’s flag carrier, opened the HK$5.9 billion (US$760 million) terminal that can handle 2.6 million tons of cargo annually, Algernon Yau, chief executive officer of the unit, told Shanghai Daily yesterday.
The Cathy Pacific Cargo Terminal will increase Hong Kong International Airport’s overall annual cargo capacity by 50 percent to 7.4 million tons, Yau said.
“We will continue to strive to enhance Hong Kong’s position as the leading airfreight hub in the region,” he said.
Yau said Hong Kong faces intense competition from airports on the Chinese mainland.
Shanghai, which has established a pilot free trade zone, intends to elevate Pudong Airport into the world’s busiest cargo hub in five years. Guangzhou is building an Airport Economic Zone while Shenzhen airport will complete its third runway soon.
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