Airport Authority signs major agreement for Cathy Pacific

(HONG KONG, 6 May 1996) -- The Airport Authority (AA) today signed an agreement with Cathay Pacific Airways to develop a HK$3.5 billion (US $448 million) headquarters on 3.3 hectares of land at Hong Kong's new airport at Chek Lap Kok. Cathay Pacific Airways Managing Director Rod Eddington said: "Relocating our headquarters is one of the most important decisions in our 50-year history and we are very excited by the prospect. This is a massive long-term investment that will vastly increase opportunities for Cathay Pacific and it reflects our commitment to Hong Kong.' The complex covers 90,000 square metres, with a 10-storey office block, a 23-storey crew accommodation block and other facilities, including a swimming pool, tennis and squash courts, and other recreational facilities. AA Chief Executive Officer Dr Henry Townsend said: 'We will have a major hotel, a freight forwarding centre and now an airline headquarters at Chek Lap Kok. The variety of land use shows the attractiveness of business opportunities available to the commercial sector at Hong Kong's new airport." Ref. PR-216