The Seven Heroes of the Warring States Period in the Greater Bay Area: How does Macau International Airport develop in a differentiated manner?
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For Macau International Airport, the construction of the Guangdong-Hong Kong-Macao Greater Bay Area brings both opportunities and challenges. How should Macau International Airport survive in the cracks and find a breakthrough to take off against the trend?
Many people have seen the opportunities brought by the Greater Bay Area, but not everyone can see the challenges hidden behind them. Where are the opportunities? The first is the integrated development of the Greater Bay Area. It lies in the expansion of the market and the take-off of the economy. As a rare development example in the world of one country, two systems, three customs zones and three currencies, with the integrated development of the Greater Bay Area, it will surely be able to unleash unprecedented economic potential. This is also the case for the Yangtze River Delta and Special advantages that Beijing-Tianjin-Hebei does not possess. Therefore, with the integration and economic development of the Greater Bay Area, it is an unprecedented benefit for aviation. All seven airports in the region will see potential huge market growth. The second is the reconstruction of the international aviation market. Since last year, my country's international flight volume has gradually recovered and has now returned to about 60% of the pre-epidemic level. The Civil Aviation Administration of China predicts that it will further recover to 80% this year. While the total number of flights has recovered, the route structure has also undergone tremendous changes. Australia and Europe have taken the lead in recovery, while the United States and Canada are lagging behind. This also provides an opportunity for Macau International Airport to break the original international air route pattern and seek new breakthroughs. The resumption of flights does not necessarily mean simply replicating the situation before the epidemic, but may involve structural changes. If I originally flew to Guangzhou, should I still fly to Guangzhou? If I originally flew to Shenzhen, should I still fly to Shenzhen? Is it possible to choose Hong Kong or Macau?
But for Macau International Airport alone, it is not only an opportunity, but also an unprecedented challenge in the integration of the Greater Bay Area.
Evolution of the pattern of airport clusters in the Greater Bay Area: The Matthew Effect of the strong always becoming stronger
The core challenge is that the Matthew effect of the strong getting stronger will be further intensified. There are several reasons for this:
First, ground transportation integration. In 2025, according to the plan, the Greater Bay Area will be built on the rails, enabling one-hour commuting from major cities in the area. In other words, the original hinterland of Macau International Airport will further extend from Macau and Zhuhai to the entire Greater Bay Area along with the high-speed rail network. In other words, the hinterlands of Hong Kong Airport, Guangzhou Airport, and Shenzhen Airport will also extend to every corner of the Greater Bay Area. If the Greater Bay Area was originally composed of seven markets, seven airports, and seven cities and seven airports, in the future it may become one market, seven airports, and one market and seven airports. Competition will become more intense and increasingly fierce.
Second, the three major airports are becoming increasingly competitive. The first is Hong Kong Airport. As we all know, Hong Kong's aviation market is the first to recover, and the recovery progress is about half a year to a year faster than that of the mainland. Cathay Pacific Airways also achieved large profits last year. Then there is the Guangzhou hub. The Civil Aviation Administration of China has issued a policy to create a super carrier. The traffic rights are further concentrated in the Guangzhou hub and China Southern Airlines, which has tailored policy resource advantages for the Guangzhou hub. There is also Shenzhen Airport. We know that the third runway of Shenzhen Airport will start construction in 2022 and is expected to be put into use in 2025. After it is put into operation, Shenzhen Airport will continue to increase its volume. For Macau International Airport, the living space will be further squeezed.
With the further construction and integration of the Greater Bay Area, Macau International Airport will usher in unprecedented development opportunities, and will also face unprecedented development challenges, including the structure of seven markets in one market, Hong Kong as the market highland, Guangzhou as the policy highland, and Shenzhen As capacity highlands, these three core hubs compete and squeeze. Therefore, before the completion of the Greater Bay Area on this track, Macau International Airport has already ushered in a rare window period in recent years and a rare opportunity period in the next few years.
How does Macau International Airport seize the opportunities of international market restructuring?
So facing such a complicated situation, how can Macau International Airport stand out from the Seven Warring States Heroes in the Greater Bay Area and develop differentiatedly?
We must first take stock of the advantages and disadvantages of Macau International Airport. Let's talk about the disadvantages first. The radiated market is small, and developing surrounding markets requires solving problems such as customs clearance convenience. There is a lack of strong main base airlines, and the business volume of the airport is also limited. Looking at the advantages, there are no strong competitors in the immediate surroundings, that is, next to the bed. There is still a certain distance from Guangzhou and Shenzhen, and there are no strong airports in the surrounding Zhuhai, Zhongshan, and Jiangmen. At the same time, Macau also has the advantage of international air traffic rights, which is unmatched by mainland airports, including Zhuhai Airport, which has not been included as an international port airport. Third, with the policy advantages of the Hengqin Cooperation Zone, it can combine the advantages of Macao and the mainland for development. Fourth, Macao has strong tourism resources and attractiveness. At the same time, the local government also attaches great importance to the airport and tourism industry. So based on the advantages and disadvantages, how to do a dojo in a screw shell? It is recommended to consider the following three aspects and seize the two-year window period to achieve better and faster development.
1. Open up high-speed railways, expressways, bridges, and passenger ships, promote normal and convenient customs clearance, and expand the hinterland of the "Macau-Zhuhai-China River"
Macau's own airport hinterland is small, with a small area and a small population. At the same time, the surrounding areas include Zhuhai, Zhongshan, and Jiangmen, and there is a lack of airports that are convenient for travel, so this is a great opportunity for Macau. We need to open up high-speed rail, expressway, Hong Kong-Zhuhai-Macao Bridge, passenger liner and other transportation modes, so that surrounding passengers can conveniently reach Macau International Airport through various transportation modes. Of course, the convenience of customs clearance is an indispensable core competitiveness and must be broken through with all efforts. For example, the Mainland and Hong Kong High-Speed Railways have border inspection and customs located back-to-back at West Kowloon Station. In the future, Macau can also learn from this and set up back-to-back border inspections and customs at the Mainland and Macau International Airport, so that mainland tourists can go to Macau International Airport in one stop, clear customs, get on a plane, and fly to overseas destinations through Macau. Therefore, we not only want to build Macau into the airport of Macau, but also the airport of choice for the four cities of Macau, Zhuhai and Zhongjiang.
2. Collaborate with Zhuhai Airport and rely on the Hengqin Cooperation Zone to lead the new pattern of "four cities and two airports" and build Macau International Airport into the first choice international port for the "Macau-Zhuhai-China-River" air-ground intermodal transport
At the same time, we must fully rely on the Hengqin Cooperation Zone and coordinate with Zhuhai Airport. Because we know that Zhuhai Airport has not yet opened international flight routes, this and Macau International Airport can fully complement each other's advantages. Therefore, the next step is to strengthen the integrated development of Macau International Airport and Zhuhai Airport through equity cooperation or cooperative operation. According to the model of two terminals, two runways and one airport, Macau and Zhuhai will be built as one city and two cities. We will further leverage the advantages of the two airports, work together to support the development of the Greater Bay Area, and build Macau International Airport into the first choice international port for the "Macau-Zhuhai-China-River" air-ground transport.
3. Give full play to the advantages of air traffic rights, use low-cost hubs as a breakthrough point, and establish differentiated competitive advantages
The advantage of Macau International Airport is that the international traffic rights flight quota is very abundant, so many that it cannot be used up at all, the tourism industry is very developed, and gambling is very attractive. But the disadvantage is also obvious, it lacks a very powerful main base aviation. Therefore, the next step is to take advantage of the favorable opportunity of the expiration of aviation franchises to introduce or prepare to establish new base airlines. If you have a choice, low-cost airlines are recommended. Because only low-cost airlines are the best partners for the tourism industry. At the same time, only low-cost airlines can greatly stimulate the travel of air passengers, and can continuously attract tourists from all over the world to travel to Macao. Only low-cost airlines can use differentiated competition to compete among the seven airports in the Greater Bay Area. A bloody road.
Because we currently know that the Greater Bay Area is dominated by full-service airlines, and the current low-cost airlines are only Nine Airways and Hong Kong Express. The full-service airline at Macau International Airport has little chance of winning in competition with Cathay Pacific, China Southern Airlines, and Shenzhen Airlines. Therefore, Air Macau is still struggling after more than 20 years of development. But low-cost airlines can break out with unique advantages and differentiated market positioning.
Finally, we can see that in the process of integration and construction of the Greater Bay Area, Macau International Airport will usher in huge opportunities, and at the same time, it will also face greater challenges in the near future. Therefore, we must be able to seize the limited window period for breakthroughs in development and transformation, and through differentiated development and competition, including our low-cost airlines, including win-win cooperation with Zhuhai Airport, and also including further building the first choice for the four cities of Macau, Zhuhai, Zhongjiang, etc. Airport, and ultimately realize the differentiated development path of Macau International Airport.