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Hong Kong announces $1 billion in relief measures for airport community

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Christian Fernsby ▼ | March 23, 2020
The Government and the Airport Authority Hong Kong (AA) jointly announced today a $1 billion package of relief measures for the aviation industry in view of the sustained challenges the industry has to face due to the outbreak of coronavirus.
Hong Kong International Airport
Business in Hong Kong   Hong Kong International Airport
To provide timely and direct support to companies across different sectors at Hong Kong International Airport (HKIA), the Government together with the AA put together a $1 billion package comprising a government waiver of $670 million for Air Traffic Control Charges in 2019/20 for the AA, which will be passed on in full to the airport community, and $330 million in contributions from the AA.

Topics: Hong Kong airport

The relief package is expected to benefit over 400 companies, including airlines, aviation support and associated passenger services, airport retail tenants and restaurants, and airport staff.

The major portion of the support will be allocated to direct support measures for the aviation industry.

Further rental concessions will also be provided to retail and restaurant tenants at HKIA.

To demonstrate care for the airport staff, a training incentive will be provided to front-line airport staff who take on training while they are on unpaid leave.

A Government spokesman said, "The aviation industry is an important driver for Hong Kong's economy.

"We are determined to maintain Hong Kong's competitiveness as an international aviation hub, and even more so in challenging times.

"With the package of relief measures jointly rolled out by the Government and the AA, we stand with the airport community to weather the storm together."

The $1 billion relief package for the aviation industry is provided in addition to the two rounds of relief measures announced in September 2019 and February 2020 respectively, amounting to about $1.6 billion.