Secretary for Transport and Logistics Lam Sai-hung thanked the 78-year-old for taking the helm over the past nine years and praised what he called his unwavering commitment.

He said So’s leadership helped consolidate Hong Kong’s position as an international aviation hub.

“Mr So played a pivotal role in such major areas as the planning and construction of the three-runway system, development of Airport City, expansion of intermodal transport networks and enhancement of air services,” he said.

“With his vision and foresight, Mr So led the [authority] to break new ground and pursue innovation, with a view to promoting the sustainable development of [the airport] and consolidating Hong Kong’s position as an international aviation hub.”

So said he was grateful to his teammates for completing the third runway under difficult circumstances during the coronavirus pandemic.

“The new runway has been operating since November 2022. We are confident that the rest of the project will be finished by the end of this year,” he said.

“I am very pleased that Fred Lam [Tin-fuk] will succeed me as chairman. He and I have been working as colleagues for more than 20 years and I am sure under his leadership, our airport will scale new heights of achievement in the future.”

Hong Kong airport ranks fourth for passenger traffic in Asia-Pacific region

Fred Lam, 65, has been the authority’s CEO since 2014.

Minister Lam mandated that Fred Lam press ahead with the facility’s long-term development, especially by making good use of the third runway system to generate business and complete the Airport City project.

Airport City is a mega project that includes a retail and entertainment complex called SkyCity, and the Phase II development of AsiaWorld-Expo, which aims to consolidate Hong Kong’s role as an aviation and logistics centre and the international gateway to the Greater Bay Area.

Fred Lam is also tasked with “actively launching external publicity and exploring business opportunities,” the minister said.

The government said Fred Lam would leave his CEO role and focus on the chairmanship. It did not say whether a placement is on the cards.

A year after Fred Lam joined the authority, the operator decided to circumvent legislative scrutiny by going for its own financing plan for the third runway, which the Executive Council approved in 2015. The financing sources were mainly focused on borrowing and charging passenger departure levies.

The HK$141.5 billion (US$18 billion) infrastructure development started in 2016 and includes a new 3.8km (2.3 mile) runway that came into service in 2022, a second terminal building opposite the present one, as well as another concourse.

The 650-hectare (1,606-acre) project is expected to increase the airport capacity by 50 per cent, considered key to the development of Hong Kong and the southern part of mainland China.

The scale was so robust that it was like building another airport, Hong Kong’s No 2 official Eric Chan Kwok-ki said earlier.

Tourism lawmaker Perry Yiu Pak-leung, who was appointed as a new board member of the authority for a three-year term on June 1, said Lam was familiar with the airport operations and was a natural choice of successor.

“The authority weathered the difficult times during the pandemic and expectations are on Fred Lam to drive future growth through the third runway system and greater cross-border cooperation especially on logistics,” he said.