Cathay Pacific to buy budget airline HK Express for $628 mn

AFP

2019/03/27 | 579 words | LE JOURNAL DE L'AVIATION | AIR TRANSPORT
Cathay Pacific to buy budget airline HK Express for $628 mn © Le Journal de l'Aviation - All rights reserved

Hong Kong flag carrier Cathay Pacific said on Wednesday it will buy budget airline HK Express for more than US$600 million as it moves to counter competition from the increasing number of low-cost carriers in the region.The move is its first foray into the budget sector and will leave Cathay controlling three of the four airlines at one of Asia's busiest airports at a time of huge growth in the region's air industry.It comes weeks after the carrier said it had swung back into the black in 20...(…)

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