Cathay Adds Budget Carrier to Group After Buying HK Express
- HK Express, Hong Kong’s only budget carrier, was owned by HNA
- Cathay CEO says acquisition is a ‘practical way’ to grow
A Hong Kong Express Airways plane taxis past Cathay Pacific Airways Ltd. cargo aircraft at Hong Kong International Airport.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Cathay Pacific Airways Ltd. completed the acquisition of Hong Kong’s only budget carrier as the company expects to lift its market share amid growing competition from mainland Chinese airlines.
Hong Kong Express Airways Ltd., which was previously owned by HNA Group Co., will continue operating as a standalone airline under the low-cost model, Cathay said in a statement Friday.