Runway levy may extend beyond 2031: airport chief
Fred Lam did not say when the Airport Authority will restart paying dividend to the government. Photo: RTHK
The Airport Authority has conceded that it may have to further extend the passenger levy to finance the third runway if the project cost goes over the proposed budget.
According to plans announced in September, the authority said levy ranging from HK$90 to HK$180 will be levied on passengers flying from Hong Kong till 2031.
Nearly 20 percent of the HK$141 billion project is expected to be funded by the fee.
The authority's CEO, Fred Lam, said they also cannot promise that it will re-start paying dividend to the government – its sole shareholder – in 2024.
The authority passed a financial stress test conducted by a consultant. In a worst case scenario of a cost overrun of 50 percent, the consultant thinks the authority can still finance the runway by raising loans.
http://news.rthk.hk/rthk/en/component/k2/1231269-20151222.htm
