Newly acquired company will retain its identity as a separate brand
Hong Kong carrier Cathay Pacific announced on March 27, 2019 it will buy budget airline HK Express for 4.93 billion Hong Kong dollars .Cathay Pacific Airways is acquiring Hong Kong-based budget airline HK Express.
Cathay said Wednesday it will pay 4.93 billion Hong Kong dollars for HK Express. It said the acquisition will retain its identity as a separate brand and be operated as a low-cost carrier. Cathay, Hong Kong’s biggest airline, also owns regional carrier Dragonair and air cargo and catering subsidiaries.HK Express, founded in 2013, serves destinations throughout East and Southeast Asia.
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