Cathay Pacific exploring options to acquire HNA’s two Hong Kong carriers

A man walks past a Cathay Pacific Airways Ltd. logo at Hong Kong International Airport in Hong Kong, China, on Tuesday, Jan. 17, 2017. Cathay, Asia’s biggest international airline, plans to shorten its fuel-hedging program and revamp its workforce as part of a new business strategy to halt a slide in earnings. Photographer: Anthony Kwan/Bloomberg

Cathay Pacific Airways Ltd., Asia’s biggest international carrier, is studying a bid for stakes in two smaller Hong Kong airlines backed by embattled Chinese conglomerate HNA Group Co., people with knowledge of the matter said.

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