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Hong Kong Aircraft Engineering Company Limited

FOR IMMEDIATE RELEASE 14th December 2006

HAECO Opens New Hangar

Hong Kong Aircraft Engineering Company Ltd. (HAECO) opened its second hangar today at a ceremony officiated by Mr. Stephen Ip, Secretary for Economic Development and Labour, Mr. Christopher Pratt, Chairman of HAECO, and Mr. P.K. Chan, Deputy Chairman and Chief Executive Officer of HAECO.

At an investment of HK$430 million, the new facility is able to simultaneously accommodate three wide-bodied aircraft and capable of undertaking all heavy maintenance and modification work for the latest generation of Boeing and Airbus aircraft. 890 new jobs in Hong Kong have been created and the employees trained at HAECO's purpose dedicated training school in Tseung Kwan O. The new hangar will allow a 50% increase in the annual volume of heavy maintenance work conducted in Hong Kong. In August this year, HAECO also announced its intention to construct a third hangar at Hong Kong International Airport (HKIA), adjacent to its existing facilities and scheduled to operate in the first quarter of 2009.

In his opening remarks, Mr. Ip commented, "The completion of this second hangar is another landmark in HAECO's long record of achievements over the past few decades. As HKIA's aircraft movements continue to break records, this new hangar will provide the much needed additional maintenance capacity to meet the growing demand from the airlines."

"I am delighted to say that the new hangar is fully booked for 2007 - an optimistic start to its operations. Once again, we have re-affirmed our long term commitment to Hong Kong, our home base, and our confidence in Hong Kong's ability to be a global aviation hub," said Mr P.K. Chan.

HAECO, one of the world's leading aeronautical engineering groups, is engaged in the maintenance, modification, repairs and overhaul of commercial aircraft and their components. At HKIA, it is able to offer a comprehensive package covering transit and technical services with full hangar support. It is publicly listed on the Hong Kong Stock Exchange.

For further information, please contact:

Mrs. Maisie Shun Wah (852) 2840 8097

Ms. Natalie Chan (852) 2840 8088

Hong Kong Aircraft Engineering Company Limited (HAECO)
Second Hong Kong Hangar

FACT SHEET

Investment
HK$430 million

Staffing
In addition to HAECO's normal intake of additional staff to meet projected growth, the facility has resulted in the creation of 890 new jobs in HK.

Location
The hangar has been built close to the east side of the existing hangar. A covered link bridge connects the two hangars to provide convenient access for staff.

Consultant
Meinhardt has provided Lead Consultancy Services including Project Management, Architecture, Civil and Structural, Mechanical and Electrical design services.

Design
The 170m wide by 85m deep hangar can accommodate two 747 aircraft, wing tip to wing tip, plus a 767 sized aircraft plus a narrow body aircraft such as an A320 - all at the same time.
The hangar superstructure has a trussed system supported by four corner columns; this design minimalises the overall weight of the roof, while providing a huge column free space underneath.
The hangar is equipped with two full sets of docking system comprising nose, fuselage and tail docks for the two wide-bodied maintenance bays and one set of tail dock for the middle bay. The docking system was designed and manufactured in Hong Kong.
The hangar will be in full operation immediately.

The first and second hangars of Hong Kong Aircraft Engineering Company Ltd. (HAECO) at the Hong Kong International Airport

Left to right: Mr. Christopher Pratt, Chairman of HAECO, Mr. Stephen Ip, Secretary for Economic Development and Labour, and Mr. P.K. Chan, Deputy Chairman and Chief Executive Officer of HAECO at HAECO's Hangar 2 Opening Ceremony.

Mr. Christopher Pratt, Chairman of HAECO

Mr. P.K. Chan, Deputy Chairman and Chief Executive Officer of HAECO

Source: Hong Kong Aircraft Engineering Company Limited

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Mrs. Maisie Shun Wah		(852) 2840 8097
Ms. Natalie Chan		(852) 2840 8088

Investment	HK$430 million

Staffing	In addition to HAECO's normal intake of additional staff to meet projected growth, the facility has resulted in the creation of 890 new jobs in HK.

Location	The hangar has been built close to the east side of the existing hangar. A covered link bridge connects the two hangars to provide convenient access for staff.

Consultant	Meinhardt has provided Lead Consultancy Services including Project Management, Architecture, Civil and Structural, Mechanical and Electrical design services.

Design	The 170m wide by 85m deep hangar can accommodate two 747 aircraft, wing tip to wing tip, plus a 767 sized aircraft plus a narrow body aircraft such as an A320 - all at the same time. The hangar superstructure has a trussed system supported by four corner columns; this design minimalises the overall weight of the roof, while providing a huge column free space underneath. The hangar is equipped with two full sets of docking system comprising nose, fuselage and tail docks for the two wide-bodied maintenance bays and one set of tail dock for the middle bay. The docking system was designed and manufactured in Hong Kong. The hangar will be in full operation immediately.