IMPLICATIONS

CONFIDENTIAL

(a) Impact on Kai Tak

3.

Earlier this

year an in-house study was undertaken to

examine the extent to which traffic might be diverted to

Shenzhen Airport from Kai Tak and thereby bring some relief to

the congestion of the latter. The study concluded that the most

likely scenario was a diversion to Shenzhen of at most all non-scheduled Hong Kong/China air services totalling 5.7% of Kai

Tak's passenger throughput (about one million passengers). The

diversion of other international air services were disregarded

since given that Shenzhen is a PRC airport, we would not be in a

position to direct traffic governed by our bilateral air

services agreements to that airport, nor would we wish to do so

as it would cause unacceptable damage to Hong Kong's ability to

remain a centre for "international aviation" and to the future

prospects of all Hong Kong airlines.

4.

Similarly, it was considered unlikely that there would

be а diversion of all existing Hong Kong/China traffic to

Shenzhen because any diversions would result in PRC carriers

losing significant amounts of foreign exchange and there would

be strong resistance from those points in China currently

benefitting economically from direct air links to Hong Kong.

Dragonair would also lose all access to the Chinese market. The

study therefore concluded that at most

any diversion would

comprise non-scheduled services.

5.

The above

the Memorandum of

construction of the

Airport has started

study was conducted prior to the signing of

Understanding and the completion of the

Shenzhen Airport. Since then, Shenzhen

commercial operations. The Chinese side

CONFIDENTIAL

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