Hong Kong private jet centre aims to fly high after upgrade of terminal

Hong Kong’s only fixed-base operator for private jet support services is betting its newly expanded terminal building will help it cash in on a boom in initial public offerings (IPOs), a surge in mega-events and rising Middle Eastern investment.

The Hong Kong Business Aviation Centre (HKBAC) unveiled the upgraded building, part of a HK$500 million (US$64.1 million) expansion plan, at the city’s airport on Wednesday.

Transport minister Mable Chan said Hong Kong’s mega-event economy would receive a boost from the facility’s tailor-made luxury services for private jet passengers.

A single flight by chartered private jet for about 12 people from Hong Kong to Tokyo costs around HK$700,000, for example.

“HKBAC has handled over 30 business aircraft flights in the first half of this year for conducting IPO affairs … Apart from attracting business travellers, HKBAC has also received many international football teams,” Chan told the opening ceremony.

“We hope that through your services, it can help boost our mega-event economy by attracting more similar athlete stars to come here.”