Announced by Cathy Pacific Airways, the airline acquired all the capital stock issued by Hong Kong Express Holding Company Limited on March 27, with 4.93 billion Hong Kong dollars, 2.25 billion paid in cash, the rest through issuance and alternate loan note.

According to the notice, the acquisition will have a synergic effect since the two Hongkong-based carriers complete one another in business and commercial mode. It represents that Cathy Pacific Group supports the long-term development of its aviation business via an attractive and practical method. The company will continue to operate as a low-cost airline independently.