Air Transport World

Open for business: Macau's new airport enters service, with an island runway that allows 24-hour operations.

Macau's new airport enters service, with an island runway that allows 24-hour operations

MACAU--A milestone was passed early in December, at which time, the new airport opened here on the southern coast of China. Location, as opposed to size and capability, gives Macau International Airport its significance, although that is not to downplay the achievement that it represents.

This significance is on two levels: Technical and geopolitical. However, the problems of the latter were eased, no doubt, by the scheme's backers. Macau International Airport Co., which developed and owns the new facility on the basis of a 25-year concession granted by the government, is a joint venture between the private and public sectors, namely, the Macau government, which has a 54.86% stake in the company, and Macau's largest private company, STDM, which owns just under 36%. The $1 billion scheme was financed 50% by stockholders' capital, with bank loans and development gains making up the outstanding half in a ratio of 4-1. …

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