July 11, 1998 |
Troubles for passengers at the new $20-billion Chek Lap Kok airport here are easing, but chaos at the cargo terminals continues. On Friday, Hong Kong's largest freight company extended until July 18 an embargo on shipments, while the government created a special team to investigate why the much-heralded airport has gone so wrong and who is responsible. The government estimates losses of $1 billion before problems are resolved.
July 9, 1998 |
Just days after this metropolis' $20-billion airport opened, the fanfare has been forgotten. Instead, a combination of computer glitches, mechanical breakdowns and unprepared personnel has turned Chek Lap Kok, the world's most expensive airport, into the globe's biggest snag--for critical cargo traffic and travelers alike. Problems with air bridges have left passengers stranded in planes for hours.
July 6, 1998 |
Dragon Air Flight 841 from Chongqing, China, was the final airplane to perform the famous white-knuckle landing here late Sunday night. Thousands of Hong Kong residents clustered on rooftops to watch the jet skim just overhead and touch down on a runway reclaimed from the sea. This morning, Hong Kong's new, $20-billion international airport replaced the 73-year-old, all-thrills, no-frills Kai Tak.
January 8, 1996 |
Airport Authority Ready to Complete Credit Facility: Airport Authority Hong Kong made the announcement about syndication of its $1.1-billion term and revolving credit facility. The authority is a government agency responsible for building an airport at Chek Lap Kok to open in 1998 and related infrastructure projects. Forty-eight international and local banks expressed interest, and the financing was oversubscribed.
July 1, 1995 |
After years of wrangling, Britain and China on Friday signed a deal removing obstacles to financing Hong Kong's new airport, the world's largest civil aviation project of the 1990s. British officials, however, said the massive project will not be done before the colony returns to China on June 30, 1997. The agreement, exactly two years before Hong Kong's hand-over, is a sign that Anglo-Chinese ties are warming after three years of acrimony over political reforms.
December 2, 1994 |
Anyone who has flown into the airport here knows the gut-wrenching dogleg turn before landing, the plane skimming so close to crowded apartment blocks that passengers can almost see what the families inside are eating for dinner. More than one plane has overshot the single runway and gone skidding into Hong Kong's not-so-fragrant harbor. "It's like landing on an aircraft carrier," says former astronaut James Van Hoften. Van Hoften, now a vice president of San Francisco-based Bechtel Corp.