Hong Kong (XFNews-ASIA) - Airport Authority of Hong Kong (AAHK) confirmed that the Chinese government has approved a cooperation agreement between the authority and Zhuhai authorities for joint management of the Zhuhai airport.
Airport Authority chairman Victor Fung said the joint venture, Zhuhai-Hong Kong Airport Management Co Ltd, will pay a franchise fee for the exclusive right to manage and operate Zhuhai Airport for 20 years.
The joint venture, held 55 pct by AAHK and 45 pct by the Zhuhai municipal government, has a registered capital of 360 mln yuan.
Among the tasks the joint venture will undertake are expansion of Zhuhai Airport's domestic network and maximization of synergy between that airport and the Hong Kong airport.
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