Cathay Pacific has entered into a Share Purchase Agreement for the acquisition of Hong Kong Express Airways Limited (HKE) for HK$4.93 billion (AU$886 million).
The acquisition is expected to benefit travellers and Hong Kong as a hub, as the businesses and business models of Cathay Pacific and HKE are largely complementary. It is intended that HKE will continue to operate as a standalone airline using the low-cost carrier business model.
The transaction is expected to complete on or before 31 December 2019.
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