"We are definitely looking at Hong Kong as one of the key destinations in South East Asia. Subject to getting the government's approval, we would like to start daily flights from Delhi and Mumbai, beginning with the summer schedule next year," said Wolfgang Prock Schauer, CEO, Jet Airways.

Currently, only two carriers operate between India and Hong Kong. Air India has 12 flights a week and Cathay Pacific operates 8 flights.

"There is an immediate capacity increment to at least 21 flights in a week, with a possible increase in the future," said Kapil Kaul, CEO Indian Subcontinent, Centre for Asia Pacific Aviation (CAPA).

Kingfisher is another carrier which is evaluating Hong Kong as a viable destination. "We are looking at daily flights to Hong Kong from Mumbai. It would definitely be put to good use as a hub for several North Asian destinations," said Hitesh Patel, executive vice president, Kingfisher Airlines.

Apart from being a shoppers' paradise and a tourist destination, Hong Kong also has an immense potential as a hub for other North Asian destinations such as Beijing, Macau and Shanghai.

Airlines such as Jet Airways and Spice Jet are also looking at starting direct flights to these destinations. One of the key drivers of traffic growth will be the Beijing Olympics scheduled next year.