Cathay Pacific to pay $286.6 million in cash and issues $341.4 million promissory loan notes to buy budget airline HK Express
Cathay Pacific Airways Airbus A350-900 airplane approaches to land at Changi International Airport in Singapore June 10, 2018.
Cathay will pay $286.6 million in cash for HK Express, and issued $341.4 million promissory loan notes, the company said in a filing.The carrier said it will continue to operate HK Express as a "standalone airline using the low-cost carrier business model". The carrier also said the purchase is a "attractive and practical way" to support long-term development and enhance competitiveness.Hong Kong Express is the city's sole budget carrier -- a sector of the industry that a marquee brand like Cathay has struggled to compete against.
The group also owns Hong Kong Airlines, another Cathay competitor that has found itself in financial difficulties in recent months.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Cathay Pacific to buy budget airline HK Express from HNA for $628 millionCathay Pacific Airways said on Wednesday it had agreed to buy Hong Kong Express ...
Leer más »
Cathay Pacific to buy budget airline HK Express from HNA for $628 millionCathay Pacific Airways said on Wednesday it had agreed to buy Hong Kong Express ...
Leer más »
Democrats express caution on Mueller report as they ramp up own probesAs Democrats wait to read Special Counsel Mueller's highly anticipated report to AG Barr, they've increasingly expressed caution and skepticism about what it might contain.
Leer más »
Syndergaard expresses frustration with Mets' decisionsPitcher Noah Syndergaard fired a shot at the New York Mets front office Sunday, ...
Leer más »
Legal experts express doubt about imminent report release'This is a faster indictment rate of presidential advisers than any president in American history,' says arimelber. 'In just over 2 years in, Donald Trump has had 6 advisers indicted, some convicted.' Some legal watchers doubt that the report lands today.
Leer más »
Stephen Moore edges closer to Fed seat as key GOP lawmakers express support‘Sometimes they need some new voices’ Sen. Richard C. Shelby says of the Federal Reserve
Leer más »