The Airport Authority is preparing a radical overhaul that will see its operations broken into five independent business units and greater emphasis placed on performance-based pay.
Under the overhaul plan, each business unit will have responsibility for generating as much value as possible from its slice of the airport's HK$55 billion in assets.
Airport Authority chief executive David Pang Ding-jung said the plan would make the authority and its employees more accountable for the overall development of the airport and its investments.
The authority's announcement comes at a time when some other government corporations such as the Kowloon-Canton Railway Corp have been criticised for overpaying executives. It also follows the Government's plan to slash civil service salaries by 4.75 per cent in October.
Mr Pang said the airport's HK$55 billion in assets - of which HK$36 billion was taxpayer-funded shareholder equity and HK$19 billion was borrowings - would be 'divided into five bags of money'.
'Staff will be divided into five groups, each of which will be accountable for creating more value out of each bag of money,' Mr Pang said.