Cathay Pacific to Acquire Hong Kong Express

The US$287 million deal looks set to be completed by the end of 2018.

Photo: Hong Kong Express

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.

Photo: Cathay Pacific

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.

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