Hong Kong Airport confirms 20-year Zhuhai Airport management deal

CHINA NEWS

by Staff Writers
Hong Kong, Aug 3, 2006
Hong Kong's Airport Authority (AAHK) confirmed Thursday it had won approval from Chinese officials to run nearby Zhuhai's airport in a 250 million yuan deal (30 million dollars) over 20 years.

AAHK will take a 55-percent controlling stake in the backwater airport and form a joint-venture management company with Zhuhai municipal government.

Authority chairman Victor Fung said the joint venture, Zhuhai-Hong Kong Airport Management Co Ltd, will pay the 250 million yuan as a franchise fee.

According to a report in the South China Morning Post, the little utilised airport will target the growing low-cost airline market in China.

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