Hong Kong buys 35% stake in Zhuhai airport for 4.3 billion yuan

Airport Authority signs agreement with Zhuhai Transportation Holding group on Tuesday

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Hong Kong has acquired a 35 per cent stake in neighbouring Zhuhai airport for 4.3 billion yuan (HK$4.62 billion). Photo: Shutterstock

Published: 7:04pm, 26 Nov 2024Updated: 8:40pm, 26 Nov 2024

The operator of Hong Kong airport has bought a 35 per cent share in neighbouring Zhuhai airport for 4.3 billion yuan (HK$4.62 billion), bringing the two closer and boosting the development of the Greater Bay Area as an aviation cluster.

The Airport Authority, which manages Hong Kong International Airport (HKIA), said on Tuesday it had signed an agreement with Zhuhai Transportation Holding Group.

The authority said the deal would bolster cooperation between the two and the development of “a world-class airport cluster” in the bay area and the region’s aviation industry.

The deal values Zhuhai airport at 13.2 billion yuan.

The authority would further capitalise on the strengths of the two airports by leveraging the convenience brought by the Hong Kong-Zhuhai-Macau Bridge, chairman Fred Lam Tin-fuk said.

The agreement was signed by Airport Authority acting CEO Vivian Cheung (seated left) and Zhuhai Transportation Holding Group chairman Chen Weijia. Photo: Handout

“This will not only bring more passenger and cargo traffic to Zhuhai airport, but also enable travellers from Zhuhai and other cities in the western part of the Greater Bay Area to enjoy the global connectivity provided by HKIA’s extensive aviation network, achieving mutual benefits,” he said.