TNAG-2413-FCO40-3515-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-fina-1992 — Page 37

USWAZ

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5.

exercise

and will

At the same time, the Government will continue to

prudent oversight of the management of Chek Lap Kok

continue to provide directly ન number of key

services such

services,

as

air traffic control, meteorological

customs, immigration, fire services and policing.

The AA will also be required to seek the prior agreement of

Government before increasing

aeronautical charges. Before

approving the level of such charges the Government must be

that the increase would not place it in breach of

satisfied

an international obligation.

The Airport Financial Study

6.

Against

this

background,

the

Government

commissioned Wardley Capital Limited ( Wardley) in August

develop a financial strategy for the funding of the

new airport. During the course of the study, which has just

1990 to

been completed, Wardley

Government and the PAA.

received

inputs both from the

7.

The

Government advised

Wardley Co adopt the

following key assumptions and parameters

(a) the

requirement for Government equity should

be kept to a minimum and borrowings maximized;