History
The authority was formed in 1995 (initially as the Provisional Airport Authority) and is independent of the government financially. There are plans to corporatise the AA and to list it on the Hong Kong Stock Exchange and to partially sell it to the public.
A convention and exhibition facility, the AsiaWorld-Expo, on the northeastern corner of the island of Chek Lap Kok was opened in 21 December 2005.
On 17 January 2005, the AA acquired 49% stake of Hangzhou Xiaoshan International Airport, with HK$ 1.99 billion, compared to bids by Singapore Changi Airport, Copenhagen Airport, Houston International Airport and BAA plc. A new holding company of Xiaoshan Airport will be formed and be listed on the Hong Kong Stock Exchange.
On 17 February 2006, the AA confirmed it will hold 55% stake in a company that operates the Zhuhai Airport, with the remaining 45% owned by Zhuhai Airport. The company will not own the assets or the liabilities of the airport.
Read more about this topic: Airport Authority Hong Kong
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