Home Business NewsBusinessAviation News Cathay Pacific acquires HK Express

Cathay Pacific acquires HK Express

by Mark Fitt Political Journalist
27th Mar 19 8:34 am

Cathay Pacific Airways has announced they are to acquire budget regional carrier HK Express, the budget airline will remain as a low-cost carrier.

Cathay said on Wednesday they will pay a total of £476m for HK Express, they will pay a combination of £216m in cash and £258m in promissory loan notes.

HK Express was founded in 2013 and services East and Southeast destinations.

Cathay Pacific Group acquired Dragonair in 2006 and they own Air Hong Kong, the group operates in 130 destinations across Europe, Asia and North America.

Cathay said the deal will be complete by the end of 2019.

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