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View Poll Results: Scale from 1 to 10, 10 being SUPER and 1 being BAD, what would you rate the Airport??
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Old August 4th, 2014, 05:38 PM   #4581
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Li Ka-shing Plans to Buy Aircraft From Irish Firm
4 August 2014
Dow Jones

HONG KONG-- Cheung Kong (Holdings) Ltd. is seeking to acquire aircraft assets from Dublin-based jet lessor AWAS, marking what would be the Hong Kong developer's first major foray into the aviation industry.

Cheung Kong--controlled by Li Ka-shing, one of Asia's wealthiest men--said Monday it had submitted a preliminary nonbinding proposal on the possible acquisition of aircraft from the Irish company.

The developer said the possible deal was at a "very preliminary stage" and gave no assurances that a definitive agreement would be reached. It didn't provide further details about the size and value of the deal.

Cheung Kong's decision to extend its reach into the aviation business comes as heavy competition has pushed many premium carriers to cut costs and refresh their fleets with planes that use less fuel. A proliferation of budget carriers in the region and a move last year by China to lift a six-year ban on setting up independent airlines helped to increase demand for new aircraft.

The move would also be the Li family's second major attempt to invest in the aviation industry. In late 2003, Victor Li, the eldest son of Li Ka-shing and a Canadian citizen, tried to buy a 31% stake in Air Canada for 650 million Canadian dollars (US$595.1 million). That attempt failed as he encountered problems with the airline's labor unions.

Cheung Kong said Monday it "has been exploring new investment opportunities to generate additional stable revenue streams to drive forward its growth momentum," and that the proposed acquisition was one of those opportunities.

Jonas Kan, an analyst at Daiwa Securities, said Cheung Kong, which has been looking for investments that can yield good and steady returns, has 30 billion Hong Kong dollars (US$3.87 billion) cash on hand and will be at a net-cash position in the second half of the year. "Cheung Kong's plan to diversify into the aviation-related investments could be a way to enhance return of its cash surplus," he said, noting that the company's gearing ratio, a measure of its indebtedness, was less than 2% as of the end of June.

Buyers of aircraft assets like the stable, long-term cash flows and healthy yields that such investment offers, analysts said.

Cheung Kong and its 49.97%-owned conglomerate Hutchison Whampoa Ltd.--whose interests range from telecommunications to ports--have increasingly concentrated on the West, adding utility and telecom companies in Europe, which provide steady cash flow and investment returns to the group. Cheung Kong on Thursday reported first-half earnings rose 59% to HK$21.3 billion despite a weaker Chinese economy.

AWAS has a portfolio of more than 300 aircraft leased to more than 100 airlines around the world, including Thai Airways International PCL; Japan's ANA Holdings Inc.; China's largest budget carrier, Spring Airlines Co.; and Australian carrier Qantas Airways Ltd.'s budget airline unit Jetstar Asia, according to its website. Private-equity firm Terra Firma Capital Partners Ltd. is the leasing company's majority shareholder.
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Old August 6th, 2014, 05:26 PM   #4582
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Li’s move into aircraft leasing stirs uncertainty
5 August 2014
South China Morning Post

Given the industry oversupply, analysts wonder how much return the investment can generate

Li Ka-shing, the wealthiest man in Asia, is looking to venture into the capital-intensive business of aircraft leasing, but analysts wonder how much capital he will get back for his troubles.

Cheung Kong (Holdings) said in a notice posted yesterday to the Hong Kong stock exchange that it was in preliminary talks to acquire “certain planes” from Dublin-based Awas, an aircraft lessor focused on buying used jets mainly from other leasing companies.

It is the latest possible investment by Li (pictured) outside Hong Kong. He had bought into the telecommunications sector in Ireland and an airport parking complex in Canada among others, stoking talk, which he has steadfastly denied, that he was gradually divesting out of the city.

The company gave no more details and a spokeswoman said she could not confirm media reports that Cheung Kong was looking to pay US$5 billion for about 100 newer aircraft among Awas’ portfolio of more than 280.

“I don’t quite understand why this would be an attractive business for Li,” said Andrew Orchard, an analyst at CIMB Securities. “The industry is not doing that great. Maybe there is a little uptake in demand, but there is still quite a lot of capacity.”

Awas’ majority shareholder, British private equity firm Terra Firma, has been studying options to break up the company’s US$11 billion worth of assets. Awas reported a profit margin of 6.7 per cent for the financial year to March, compared with 33.6 per cent reported by Netherlands-based AerCap, one of the largest lessors.

Another analyst said “US$5 billion for 100 aircraft sounds a bit high, which would average US$50 million per aircraft”, adding the transaction price of a new A320, Airbus’ best-selling narrow-body model, was only about US$30 million.

But he said aircraft leasing fit the investment criteria of Cheung Kong – whose portfolio spans property, ports, telecommunications, infrastructure and retail – as it also featured long-term investment with periodic return. The conglomerate’s abundant cash flow would also be an edge, he said.

Eric Lin, an analyst at UBS, said the risk would depend on the aircraft’s end customers and how high the return would be. “Leasing is a business with a stable return relative to being an operator,” he said.

Analysts also warned of the risk of oversupply, given the cyclical nature of the airline industry.

The deal, if realised, would add to a list of multibillion-dollar deals in the aircraft leasing sector in the past two years, with the biggest being AerCap’s US$7.6 billion purchase of International Lease Finance Corp from American International Group and Sumitomo Mitsui Financial Group’s US$7.3 billion acquisition of Royal Bank of Scotland Group’s aviation unit.
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Old August 9th, 2014, 07:20 AM   #4583
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Old August 11th, 2014, 04:49 PM   #4584
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Rowdy Briton forces London-bound flight back to Hong Kong
11 August 2014
The Times

A London-bound Virgin Atlantic flight was forced to return to Hong Kong this morning after a British passenger “lost control”, police said.

The 26-year-old man identified only as “Robert” was on a Heathrow-bound plane from Hong Kong International Airport and became disruptive after the flight had been in the air for more than an hour.

It was forced to turn around after 90 minutes, the airline said, and landed safely back in Hong Kong.

The passenger was arrested and sent to Princess Margaret Hospital, authorities said.

Passengers took to social media to describe the “nightmare” flight.

“Wow absolutely terrifying. Disruptive/disturbed passenger on our flight back to London from Hong Kong. Plane has had to turn around #scary,” wrote @MsEmmaCharlotte on Twitter.

Adding: “A man was either on drugs or mentally ill, attacking staff, thinking they were taking him to space. All very scary.”

“The foreigner didn’t follow instructions from staff on the flight,” a police spokesman said.

“He was shouting ... When the flight returned to Hong Kong, the man was arrested for violating aviation security ordinance and was sent to Princess Margaret Hospital,” he added.

A Hong Kong airport authority spokeswoman said that Flight VS201, an Airbus A340 carrying 240 passengers and 16 crew, had departed at midnight.

Stranded passengers were put up in Hong Kong hotels and will fly out again tonight.

In a statement the airline said: “Virgin Atlantic can confirm that due to a disruptive passenger, VS201 to London Heathrow returned to Hong Kong and was met by authorities on arrival.”

“The flight went back to Hong Kong after 90 minutes for a disruptive passenger,” a Hong Kong-based Virgin Atlantic spokeswoman said.

“The rest of the passengers were provided with accommodation before they depart tonight.”

Police said Monday that the man had not yet been charged.

Authorities were unable to confirm whether he was still in hospital and what treatment he had received. The jet had been due to land at Heathrow at 5.25am.
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Old August 12th, 2014, 03:50 PM   #4585
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'Wishful thinking' on dolphins slammed
The Standard
Tuesday, August 12, 2014

The Airport Authority announced four extra measures to help conserve Chinese white dolphins after work on the proposed third runway is complete.

That came in a meeting with an Environmental Protection Department subcommittee, which criticized the authority for "wishful thinking" that dolphins fleeing their Lantau habitat will return.

Authority general manager Peter Lee Chung-tang said traffic volume at SkyPier would be capped at 99 ferry trips per day, originally predicted to rise to 115 in 2021 and 130 in 2030.

And to be funded is a marine ecology conservation management plan for the dolphins in south Lantau waters.

Night studies will be carried out on dolphin activity and funding provided for a conservation strategy in the Pearl River Estuary. The authority submitted its environmental impact assessment report to the related subcommittee under the EPD's Advisory Council on the Environment at the meeting, which continues tomorrow and Monday.

Dolphin specialists Thomas Jefferson and Bernd Wursig, advisers to the authority on the report, said dolphins are smart and it is believed they will return after work on the third runway is over.

But subcommittee vice chairman Hung Wing-tat, associate professor of civil and structural engineering at Polytechnic University, criticized the EIA report for lacking scientific evidence.

Hung said: "I swear it is wishful thinking. If there is a piece of scientific evidence, I will take back my words."
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Old August 12th, 2014, 07:41 PM   #4586
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Quote:
Originally Posted by hkskyline View Post
Rowdy Briton forces London-bound flight back to Hong Kong
11 August 2014
The Times

A London-bound Virgin Atlantic flight was forced to return to Hong Kong this morning after a British passenger “lost control”, police said.
<snip>
Wow, what an expensive flight disruption.
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Old August 13th, 2014, 03:38 PM   #4587
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By daniello from dcfever :

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Old August 15th, 2014, 06:09 PM   #4588
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By zaigor from dcfever :

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Old August 17th, 2014, 04:27 PM   #4589
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By liu.c.h from dcfever :

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Old August 18th, 2014, 03:00 PM   #4590
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Jetstar defends loss-making Asian push
9 August 2014
The Age

Aviation - Focus on long-term future

Jetstar Group chief executive Jayne Hrdlicka has defended the low-cost carrier's investments in Asia, saying the region represents a vital part of the future of the airline over the long term.

"We can sit back and dismiss all of this as an Asian distraction or we can play an active role in the world's largest growing aviation market, and that is our choice," she said at the CAPA Australia Pacific Aviation Summit on Friday, responding to critics of the investments, which have been mostly loss-making to date. "Asia is anything but a distraction."

Jetstar has arms in Singapore, Vietnam and Japan and is seeking approvals to set up Jetstar Hong Kong. In February, it froze growth in its Singapore arm as a result of tough market conditions that have led to losses.

"It was a clear signal the market was overcooked," she said. "All low-fares carriers in Singapore have since announced similar moves. South-east Asia is on the path to correction, which is great."

Ms Hrdlicka said the outlook for Jetstar Japan, which has been operating for two years, was particularly bright. The carrier is now the fourth-largest domestic carrier in Japan in a market that grew by more than 8 per cent last year as a result of the introduction of budget airlines.

However, Jetstar Japan has yet to produce a profit. Ms Hrdlicka said Jetstar was realistic about the ability of the Asian ventures to do so within a few years of starting up.

Jetstar has a minority stake in all of its Asian ventures to enable it the ability to access international air rights. It has a seat on the boards of the carriers, but independent management teams report to the board.

In Hong Kong, Jetstar has faced lengthy regulatory approval delays in setting up its local arm amid opposition from rival Cathay Pacific. Earlier this year, the venture sold three of its nine aircraft and the board is understood to be considering the sale of three more.

"Hong Kong has taken us much longer than we expected, but we are still passionate and committed about Jetstar Hong Kong," Ms Hrdlicka said. "If approved, Jetstar Hong Kong will address huge pent-up demand for low fares in the Hong Kong market."

Mike Mrdak, the secretary of the Australian Department of Infrastructure and Regional Development, said the government was seeking the ability for local carriers to use Hong Kong as a hub, along with regulatory approval of Jetstar Hong Kong, before it will allow Cathay Pacific to increase flights to Australia.
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Old August 20th, 2014, 04:09 PM   #4591
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Haeco grounded by elite bank jobs that pay more
14 August 2014
South China Morning Post

A shortage of labour is limiting Hong Kong's position in the aircraft maintenance industry even though it is home to the world's No 2 service provider.

That No 2 ranking in the aircraft maintenance business is a little dubious. It is done on the basis of market capitalisation, which means that any contender must first be a separate listed company. Many are not. Total revenues or maintenance hours would be a better measure.

But Hong Kong Aircraft Engineering Company is still a company that has impressed me right from my investment analyst days when they used to offer us tours at Kai Tak once a year and showed how they had all the equipment to put together a Boeing 747 from the ground up.

Then there was the time that the late Vic Locke, commodore of the yacht club, ran his aluminium-built yacht, Bugis, across a rock somewhere near Port Shelter, and put a kink in it.

The boys at Haeco took it out of the water, put it on the rack, and, "pop", Bugis was all shipshape again. But to everything there is a season and it may just be that Haeco's best days are over, that it just doesn't make sense to have such a big maintenance centre here any longer.

Hong Kong people just don't want the jobs. They want to work in banks and Haeco won't make you rich. In a bank job you have a chance.

As the chart shows, we crossed a benchmark in our employment statistics this year. There are now more than one million job holders with a degree from a tertiary institute of education.

This amounts to 27 per cent of the total employment rolls, a figure that has doubled in just 15 years.

Many of these degree holders slaver for the get-rich-quick bank jobs as they enter the workforce and the large majority of them will be frustrated. Only if daddy maintains US$100 million with the bank is son or daughter guaranteed a job there.

But why is it that in a work force with a million people who have gone to the time and effort of acquiring a full tertiary level education there are not enough people who have directed their education towards the skilled jobs that Haeco has on offer?

Part of the answer obviously lies in the fact that at Haeco you have to wear a maintenance uniform rather than suit and tie and you have to dirty your hands a little. But there are many bank jobs of far greater drudgery than anything to which Haeco puts its people.

I think in the end it just comes down to the money. I am not privy to the Haeco pay scale but the company faces a conundrum that will simply not go away. Either the pay goes way up and slowly the word goes out that Haeco is a good place to work or its labour shortage will get worse.

And if paying more means that Haeco is no longer competitive in the worldwide aircraft maintenance market, then so be it. Hong Kong's window of opportunity in this business will have been exploited fully during the few decades the window was open and now it is Pakistan's turn or Brazil's.

Haeco, in my view, is a bellwether for much that will change in the make-up of Hong Kong's economy over the next few years.

But while it would be sad to lose a company like this or see it dwindle, the same could be said of many garment companies that are now only names from the past.

If it must go, then let it go. This town will still move on.
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Old August 21st, 2014, 06:02 AM   #4592
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Old August 23rd, 2014, 10:05 AM   #4593
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Old August 24th, 2014, 06:15 AM   #4594
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Air Traffic Movements Hit Record High in July

(HONG KONG, 17 August 2014) – Hong Kong International Airport (HKIA) recorded robust growth in all three air traffic categories in July. Air traffic movements achieved a new monthly record since December 2013, with 33,285 movements in the month, representing a 3.5% growth over the same period last year. Passenger traffic grew 3.6% to 5.6 million, and cargo throughput also showed strong growth of 8.3% to 370,000 tonnes.

The growth in July passenger traffic was mainly driven by 4% year-on-year growth in both Hong Kong resident and visitor traffic. Passenger traffic to/from North Asia and North America recorded the most significant increases.

The growth in cargo throughput last month was driven mainly by transshipments, which was up 23% from a year ago. During the month, cargo throughput to/from Mainland China and North America improved most significantly compared to other key regions.

C K Ng, Acting Chief Executive Officer of Airport Authority Hong Kong, remarked, "We are pleased to have achieved a new monthly record in air traffic movements in July. Increases in passenger traffic, cargo throughput and air traffic movements have clearly demonstrated steady growth momentum in air traffic at HKIA."

"At the end of July, HKIA welcomed the first Airbus A350 XWB arriving from Toulouse, France, as Hong Kong was one of the fourteen cities chosen for the new aircraft’s route proving exercise. This new mid-sized wide-bodied aircraft offers superior energy efficiency and low emissions, and we applaud the industry’s efforts towards minimising environmental impact," added Mr Ng.

In addition, a group of enthusiastic graduates and students of the Hong Kong Academy of Performing Arts is staging "Summer MJ Fun @ HKIA" at the Meeters and Greeters Hall in Terminal 1 from 11 to 24 August, delighting travellers with a singing and dancing performance echoing the energy and passion of the legendary Michael Jackson’s music, aiming to provide passengers a lively terminal experience.

For the first seven months of 2014, HKIA handled 36.4 million passengers, 2.5 million tonnes of cargo and 224,370 flight movements, representing year-on-year increases of 5.9%, 6.6% and 5.4%, respectively.

On a rolling 12-month basis, HKIA’s passenger volume grew 6.5% to 61.9 million, while cargo volume rose 5.1% to 4.28 million tonnes. Air traffic movements increased 5.8% to 383,620 year on year.
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Old August 28th, 2014, 03:32 PM   #4595
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Old August 30th, 2014, 04:13 PM   #4596
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Old September 2nd, 2014, 07:14 PM   #4597
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Qantas cedes voting rights to HK partner
1 September 2014
The Australian Financial Review

Qantas Airways has ceded some of its voting rights in its troubled Jetstar Hong Kong venture to local partner Shun Tak Holdings, in a bid to better demonstrate that control of the business resides in Hong Kong, and to speed up the launch the airline.

In its annual accounts released last week, Qantas said its ownership interest in Jetstar Hong Kong accounted for under the equity method had fallen to 25 per cent from 33 per cent at the time of its last update in February, which listed the interest as of December.

A Jetstar spokeswoman said the start-up airline's share registry had been updated in February to reflect changes to the voting structure and the appointment of two new board members from Shun Tak. The Hong Kong company now has 51 per cent of the shareholder voting rights, while Qantas and China Eastern will each retain 24.5 per cent.

"Changes to the voting rights and the appointment of additional board members from the local investor were made to further cement the Hong Kong leadership and governance at a board level," the Jetstar spokeswoman said.

Rival Cathay Pacific has been lobbying against approvals for Jetstar Hong Kong on the basis that it does not comply with Hong Kong's Basic Law as real control of the airline will be in Australia.

The change to voting rights is the latest move taken to demonstrate that control is in Hong Kong. The airline was initially a 50/50 joint venture with China Eastern, but Shun Talk was introduced as a shareholder last year.

Jetstar Hong Kong had nine A320 aircraft sitting idle at Airbus headquarters in Toulouse, France, but it has since sold six of them amid the regulatory delays, leaving three needed to gain its operating licence. In July, China Eastern provided Jetstar Hong Kong with a $US60 million ($64.2 million) loan to cover ongoing expenses which did not change the ownership structure.

There is industry speculation that Jetstar will not receive a hearing on its licence to start operations until January at the earliest. Qantas chief executive Alan Joyce last week deflected questions about whether there were any signs of a breakthrough with regulators on Jetstar Hong Kong, noting his airline was only a minority shareholder.

"[Chairman Pansy Ho] is leading the charge at getting the approvals and she continues to be optimistic about getting there, and I think any other questions on this should be directed to Jetstar Hong Kong," he said.

Jetstar Hong Kong is the low-cost carrier's fourth Asian offshoot, with the others being Singapore's Jetstar Asia, Vietnam's Jetstar Pacific and Jetstar Japan. Qantas last week reported $40 million in losses from Jetstar Asia and $70 million from the other Asian arms combined.

Qantas last week ruled out the possibility of setting up any new Jetstar arms while the parent company is focused on cutting $2 billion of costs over the next three years.
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Old September 6th, 2014, 06:05 PM   #4598
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Old September 7th, 2014, 06:41 AM   #4599
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That's a very large airport. I was there back in April and noticed some new construction for a new terminal there. Did the new terminal finish constructed yet ?
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Old September 7th, 2014, 08:45 AM   #4600
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Quote:
Originally Posted by DayTrip View Post
That's a very large airport. I was there back in April and noticed some new construction for a new terminal there. Did the new terminal finish constructed yet ?
Not yet. The large satellite terminal on the middle of the island is still U/C although they have started putting up the glass cladding.
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