A proposal to buid a third runway has been pushed by Cathay Pacific in Hong Kong as passenger traffic is seen to grow more in the coming years.

Hong Kong's Cathay Pacific has called for a new third runway at the city's airport, saying the facility had become a "victim of its own success" as travel demand grows in the region.

This petition came as the Hong Kong Airport Authority was set to begin a three-month public consultation on its new 20-year development blueprint, said to include plans for a third runway at a cost of HK$86 billion or roughly USD$11 billion, reports from Reuters and AFP said.

"A third runway at (the airport) is going to be needed," Sydney-based Cathay CEO John Slosar said in a statement issued by the airline.

"Connectivity with the rest of the world has made Hong Kong what it is today so we must be clear on how we can maintain and grow these linkages for tomorrow," he added.

The statement warned that Hong Kong's airport, one of the busiest in the region, "had become a victim of its own success," as it battles traffic congestion and increasing competition from airports in neighbouring cities.

Cathay said the current two runways at the airport will be saturated within the next nine years - up to 20 years earlier than the original prediction of 2040.