Hong Kong flag carrier Cathay Pacific Airways’ relaunched direct passenger flights to the Saudi Arabian capital Riyadh will unlock business and travel opportunities between the city and the Middle East despite escalating geopolitics tensions, the financial secretary has said.
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Paul Chan Mo-po, who is among about 200 passengers on the inaugural flight CX647 scheduled to leave at 4.25pm on Monday, is leading a high-profile delegation to Riyadh, with the group scheduled to attend a global summit, the Future Investment Initiative (FII), between Tuesday and Thursday and also to meet political, business and innovation leaders.
The delegation comprises 110 leaders from regulatory bodies, and the financial and technology arenas including the CEO of government-owned Hong Kong Investment Corporation, Clara Chan Ka-chai, whom the financial secretary said would facilitate bilateral investments for better returns by leveraging on both sides’ resources.
“We hope it will bring us new investments, new companies and new technology companies, and bring in more liquidity and capital,” he said before the flight left Hong Kong International Airport.
The Cathay service is the only direct one between the two cities and has been relaunched after it was cancelled in March 2017 due to poor demand.
The carrier will operate three return flights per week between Hong Kong and Riyadh with its Airbus A350-900 aircraft across business, premium economy and economy classes.
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“The route will unlock new opportunities for investments, trade and collaborations particularly in such areas as innovations and technology,” Paul Chan said.