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Secretary for Transport and Logistics Mable Chan has requested a report from Greater Bay Airlines following the axing of numerous flights scheduled between this month and March.
It is understood that about 200 flights, primarily serving routes to Japan and South Korea, have been affected.
On Facebook, Chan expressed "great concern" and said the bureau will meet with airline representatives.
She also urged it to come up with a contingency plan.The airline has apologized and said ticket replacements and refunds would be processed without additional fees.
It currently operates eight B737-8 passenger jets and has ordered 15 B737-9 passenger planes, along with at least five 787 Dreamliner aircraft last year.Two of the 737-9 jets are expected to be delivered in the second quarter.
Greater Bay Airlines' woes came as the airport saw robust growth last year with the third runway operational.Over 53 million travelers and 363,305 flights were recorded, up 34.3 and 31.6 percent, respectively, according to the Airport Authority.
Total cargo throughput was up 14 percent to 4.9 million tonnes.Last month alone, flight movements rose by 12.5 percent to 33,550.
Passenger volume also experienced "significant growth," up by 18.3 percent to 5.1 million, while cargo throughput rose 6.6 percent to 446,000 tonnes.Vivian Cheung Kar-fay, acting chief executive, said last year was a "fruitful and rewarding year."