This item was published during the term of a previous administration that ended in April 2007
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Fly direct between Auld Reekie and New York
11/06/2004
The Executive's Route Development Fund has helped to
secure the non-stop, daily service between Edinburgh and
New York/ Newark airport. This is the first time that the
Fund has invested in a transatlantic route.
Scotland's thriving financial services and tourism
businesses will benefit from the launch of a new direct air
route today between Edinburgh and New York according to
Transport Minister Nicol Stephen.
The new service will complement the already successful
service between Glasgow and New York.
Nicol Stephen said:
"The USA remains the powerhouse of the global economy
and better connections will give Scotland a competitive
advantage.
"This new, non-stop service will help Scottish companies
prosper in a crucial market and encourage more direct
investment from US businesses in Scotland. It means
business people and visitors are now able to fly direct,
without taking a second flight through a hub airport
outside Scotland.
"Edinburgh is now one of Europe's largest financial
centres and this new route connects Scotland's capital
directly to the world's financial capital. Scotland's
leading banks are now major players in North America and
another link to Wall Street can only strengthen our global
businesses.
"The service also offers a fantastic opportunity for our
tourism industry. There is huge interest in Scotland across
North America and with improved promotion as part of this
new route the potential is very significant. Newark/ New
York is a hub airport for North America and we are now in a
position to attract many more US visitors."
The value of Scottish exports to the USA in 2002 was £2
billion, making it Scotland's second largest export market
after Germany.
The US already provides the greatest amount of direct
investment into Scotland, with more than 350 projects last
year, and US banks have invested more than £500 million in
financial services in Edinburgh in the last 5 years. The
financial services sector accounts for 80 per cent of all
business travel between Edinburgh and New York.
Mary McLaughlin, Director of Transport at Scottish
Enterprise, which manages the Route Development Fund on
behalf of the Scottish Executive, said:
"The start of Continental Airline's new transatlantic
air service between Edinburgh and New York is another
important landmark in the development of direct air routes
to and from Scotland. For the first time both of Scotland's
main cities are now linked directly, all year round, to New
York and a hub which offers access to a further 170
destinations across the Americas.
"The Edinburgh service will help reinforce the very
strong business and leisure links between Scotland and
North America and build on the success of Continental's
service which has operated between Glasgow and New York for
the last six years.
Provisional figures for 2003 show that there were
415,000 US visitors to Scotland, a 7.5 per cent increase
from the previous year.
Philip Riddle, Chief Executive of VisitScotland
said:
"We're delighted to welcome this first direct service
between the New York area and Edinburgh, and look forward
to working with and supporting Continental Airlines in
future, to ensure this venture is a huge success.
"The American market remains hugely important to
Scotland's tourism industry, and the launch of this service
is testament to our country's standing as a world class
visitor destination for US leisure and business travellers
alike."
The Route Development Fund is provided through the 2002
Scottish Budget with £5.5 million from the Executive, £1
million from Scottish Enterprise and £300,000 from
Highlands and Islands Enterprise. The fund is operated in
partnership with Scottish Enterprise, who administers the
fund on the Executive's behalf.
The Route Development Fund supports new air links where
airlines can demonstrate the services will have a direct
economic benefit to Scotland. The flights must involve
regularly scheduled services and must not undermine
existing flights. 20 offers of support have been made to
date. The exact amount from the fund given to the airline
cannot be disclosed due to reasons of commercial
confidentiality. This is the first time a transatlantic
route has been supported.