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.
