Hong Kong (TAN): Flag carrier of Hong Kong, Cathay Pacific has acquired budget airline Hong Kong Express Airways (HK Express), which now happens to be a fully-owned subsidiary of Cathay Pacific.
Chief Executive Officer, Cathay Pacific and HK Express Chairman Rupert Hogg said the acquisition will be useful not just for passengers and the two airline groups, but also for the ‘development of Hong Kong as a global aviation hub’.
[ALSO READ: Western Australia’s Rottnest Island receives record visitors in 2018-19]
“HK Express will continue to operate as a stand-alone airline using the low-cost carrier business model. I would also like to reassure HK Express customers that there is no change to the airline’s operating model and that business will continue as usual. There will be more value fares and more destinations available to travellers,” he added.
Ronald Lam, who earlier served Cathay Pacific as Director – Commercial and Cargo, has been appointed the Chief Executive Officer of HK Express. He said the acquisition will help the Cathay Pacific Group to expand its business over the long term.
[ALSO READ: US – Wild horse on Maryland beach kicks tourist in the crotch when he tries to pet it]
“Our respective businesses and business models are largely complementary. HK Express captures a unique market segment that, together with the extensive network offered by the Cathay Pacific Group, could multiply connection opportunities through Hong Kong. This will bring tremendous benefits to the travelling public with more choices and greater convenience for their travel experience,” he added.
