The Airport Authority (AA) says it will issue bonds in the coming year to pay for the third runway project, saying the Covid-19 pandemic has affected its income.

In a document submitted to the Legislative Council, the authority said fast-spreading Covid variants have triggered new travel restrictions around the globe, and it's generally expected that passenger traffic will only return to pre-pandemic levels in three to four years’ time.

Construction of the runway itself was recently completed and it is expected to open in 2022. However, construction of other facilities including a new terminal and passenger concourse are not expected to be finished until 2024.

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