Hong Kong must move now on third runway or risk falling far behind
Ivan Chu says given the critical need for a third runway at Hong Kong airport, construction must begin as soon as possible. Outstanding issues can be addressed along the way
We are facing a stark reality as the current two-runway system at Hong Kong International Airport gets perilously close to reaching full capacity. As carriers operating into and out of Hong Kong begin to lose the ability to mount new flights and bring new destinations into their networks, our city is in serious danger of losing out to rival hubs in the Pearl River Delta and rapidly expanding airports in other major Asian cities.
That is why Cathay Pacific and the Hong Kong airline industry as a whole have been so strident in their support for the construction of a third runway. The Hong Kong government has done a superb job in building a hub the city can be proud of. The fact that the airport was the world's third-busiest in terms of international passenger numbers in 2014 , and the world's No 1 for international airfreight, is a remarkable achievement.
Yet without the third runway, the growth of the Hong Kong hub will be stifled and the impact on the city's long-standing position as an international centre for finance, trading, logistics, tourism and professional services will be widely felt. Our home city's competitiveness will be hindered through a critical shortage of infrastructure.
On March 17, the Executive Council gave approval for the third runway project to move ahead - a decision which was warmly welcomed by the airline community.
However, with a projected 10-year window before the project is completed, and the ability to enhance the airport's current capacity already severely limited, time really is of the essence.
It is natural that many questions need to be asked regarding such an expensive and complex project. But while it might seem desirable to appease all parties and resolve every little issue before work begins, this is simply not feasible for a project of this magnitude.
Given that there is broad agreement on the economic importance of the third runway, the only way to drive the project forward at maximum speed is to resolve any issues in tandem with construction going ahead.