AirAsia has ended an agreement with Gumin Company Ltd and Hai Au Aviation to set up a low-cost carrier.
Cathay said it intends to continue operating HK Express as a standalone carrier using a low-cost business model.
Cathay is not interested in Hong Kong Airlines because it has both similar routes and full-service positioning.
The airlines is closing in on selling a minority stake to a foreign strategic investor, with a deal likely to be sealed in the first half of this year
ST Engineering faces increased competition from jet and engine manufacturers in offering maintenance packages to airlines.
The financing represents a key test for the airline, which was taken over by Malaysian sovereign wealth fund Khazanah Nasional in December 2014.
IPOs & Markets
Juneyao Airlines and its controlling shareholder Juneyao Group are expected to own more than 5 percent stake in China Eastern
The flamboyant CEO, who co-founded AirAsia in 2001 with two aircraft, announced plans for an IPO for the India unit in January.
Temasek would likely emerge as only a minority holder in the Hong Kong airlines.
"The biggest asset is our data," AirAsia chief Tony Fernandes said in an interview. "And we're going to monetise that data over a series of joint vent
© Copyright DEALSTREETASIA 2014-2019 All rights reserved.
Forgot your password?
We will never share your information with third parties.
Already have an account? Sign in here
If you don’t already have an account click the button below to create your account.