HONG KONG (XFNews-ASIA) - Hong Kong Aircraft Engineering Company Limited (HAECO) said it has entered into an agreement with the Airport Authority Hong Kong (AA) to construct a third hangar in two phases at Hong Kong International Airport (HKIA), adjacent to its existing facilities.
The first phase of the new facility, with an investment of 380 mln hkd, will cover an area of 15,750 square meters and be able to accommodate two large wide-body aircraft.
The hangar is scheduled to start operations in the first quarter of 2009 and specialize in light maintenance checks.
Under the agreement, HAECO will also construct the second phase of the third hangar which will be completed sometime before 2015.
As part of the agreement, the master franchise under which HAECO operates both line and base maintenance will also be extended by five years to 2036, subject to conditions.
(1 usd = 7.8 hkd)