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Airport authority buys 500,000 tickets to inject cash into ailing airlines

04/09/2020| 5:08:33 PM|

The Airport Authority Hong Kong will fund a HK$2 billion purchase scheme for half a million air tickets.

The government will buy 500,000 flight tickets directly from the city’s airlines as part of a stimulus worth billions of Hong Kong dollars to the crippled aviation sector.

In the biggest package of financial support for the industry to date, firms will also be able to tap into the government’s new scheme that subsidizes monthly pay packets by up to HK$9,000 under a wider HK$137.5 billion (US$18 billion) package to shield Hongkongers from the devastating economic impact of COVID-19.

The Airport Authority Hong Kong, which runs HKIA, will fund a HK$2 billion purchase scheme for half a million air tickets, as well as buying back airport services equipment, bringing the total package of AAHK support to HK$4.6 billion.

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TAGS: Hong Kong
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