Ho lands helicopter deals after cash ban on ferries

STANLEY HO announced yesterday that he had secured five contracts for his helicopter charter business after banning cash transfers on his Jetfoil ferries.

Mr Ho, the group executive chairman of Shun Tak Group which operates the Macau-Hong Kong Jetfoils, confirmed yesterday that an interim ban on carrying cash would be permanently enforced.

He said five contracts had been approved for chartering helicopters to ship cash between Hong Kong and the Portuguese enclave.

East Asia Airlines, which services the Hong Kong-Macau line, is also a subsidiary of Shun Tak Group.

'Due to the high traffic density of our jetfoil service, it would be difficult for us to impose special security measures,' Mr Ho said.

Macau Bankers' Association chairman, Edmond Ho Hau-va, said yesterday his members were aware of the new measure and had discussed future operations with security firms.

'We are trying to find an economic and safe method for the cash transportation but frankly speaking, there are not too many options.' He said a helicopter service was one option but banks had to consider the cost and weather conditions.

At current prices, it would cost $9,616 to buy tickets for all eight seats, but it is understood the company is offering a discount for chartering the whole helicopter.