Hong Kong’s flagship carrier Cathay Pacific Airways Ltd reported on Tuesday it is in “active discussions” about acquiring discount airline Hong Kong Express Airways Ltd, also known as HK Express ( 香港快運航空). Buying HK Express would be a game changer for both Cathay Pacific and the region of Hong Kong. Cathay has been hit by competition from Air Asia and Qantas low cost subsidiary Jetstar and has been forced to price discount. The airline has had two consecutive losses for the first time in 71 years. This deal, if successful, would allow Cathay to gain…
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