Hong Kong's airport on Friday officially launched a new third runway which is expected to boost the city’s status as an aviation hub.

The Airport Authority Hong Kong said about 140 flights a day are already using the new runway, which has been in operation since early July.

However, the airport is still using only two runways because its center runway was closed in July for reconfiguration. The airport is also expanding its Terminal 2 and is building a new concourse and baggage handling system.

Work is expected to be completed by 2024, after which the airport will use all three runways, giving it more flight capacity. The entire project will cost 145 billion Hong Kong dollars ($18.5 billion), according to Jack So, chairman of the airport authority.“

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