Cathay Pacific Airways is in talks to acquire budget airline Hong Kong Express Airways (HKE).
The Hong Kong flag carrier says in a statement that it is “in active discussions about an acquisition involving HKE”.
Cathay adds that “[n]o agreement for the acquisition has been entered into and there can be no certainty that any agreement will be entered into”.
The announcement follows a February 27 report by Bloomberg News that Cathay has held preliminary talks with HNA Group about acquiring minority stakes in Hong Kong Express (which also goes by the name “HK Express”) and Hong Kong Airlines, both of which Chinese conglomerate HNA Group owns.
While Cathay acknowledged the media report, it did not comment on whether or not it is also in discussions to acquire a stake in Hong Kong Airlines, saying only that “[f]urther announcement(s) will be made as and when appropriate”.
In February, Business Traveller Asia-Pacific reviewed HK Express’ Airbus A320 economy class service between Hiroshima and Hong Kong.