The US$287 million deal looks set to be completed by the end of 2018.
Cathay Pacific has announced that it will be buying budget airline Hong Kong Express (HK Express).
According to a Hong Kong stock exchange filing, the HK$2.25 billion (US$287 million) deal will be completed by December 31.
Upon completion of this acquisition, HK Express will become a wholly-owned subsidiary of Cathay Pacific.
This month, the Hong Kong flag carrier has also revealed its return to profitability after two years, including its first back-to-back annual loss back in 2017.
More information here.