Cathay Pacific confirms takeover talks for Hong Kong Express from HNA Group

Cathay Pacific Airways has confirmed that it is “in active discussions” about an acquisition involving the low cost carrier Hong Kong Express Airways (HKE) from HNA Group, the Chinese conglomerate.

The Hong Kong-base passenger and freighter airline issued a short statement after media reports suggested that Cathay Pacific was in discussions to acquire shares in both HKE and Hong Kong Airlines from HNA Group .

Cathay Pacific stated: “The company hereby confirms that the company is in active discussions about an acquisition involving HKE. No agreement for the acquisition has been entered into and there can be no certainty that any agreement will be entered into.”

It added: “Further announcement(s) will be made as and when appropriate.”

In January this year, ground handler Swissport again extended the collection date on the €286m balance of a loan to parent company HNA Group, while its Chinese parent “concludes its assessment of strategic options” for its ground handler.