Cathay Pacific snaps up Hong Kong Express

As the matter of the fact, the Cathay pacific snaps up Hong Kong Express that ought to be considered to be the important and the significant news that brokered in the airline industry operating in the different parts of the world. The deal that took place that resulted in the acquisition of the Hong Kong Express airways on the part of the Cathay Pacific valued to be at the amount of the US%628 million. The acquisition was made possible for the reason that the company was unable to fight back against the debt crisis it confronts since long that forced it to sell assets to recover. According to the information shared by the officials of the Cathay, it was said to be the fact that the company will be highly likely to function the acquired firm in the name of the Hong Kong Express as the distinctive identity following the low-cost model of the airline.

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As the matter of the fact, it has been said that the space would turn out to be the in the restricted manner until and unless the completion of the expansion gets done that is expected to take place in the year of the 2024. Due to this reason, the carrier would not be able to compete with the other airlines in the shape of the Qantas Airways and the Singapore Airlines and so on and forth. According to the reports produced and shared by the Hong Kong Express, it was said that the HK$141 million net loss that resulted in the year of the 2018 with the net asset value of around HK$1.12 billion. It was further disclosed in the report that the Cathay could manage to get the profits now after the last 3 years.

Alex

Alex is a writer based in the United Kingdom. Inspired by the beauty of the world, Alex has written several poems and literature on some of the most enigmatic and mysterious places of the world.He has a knack to discover and explore different cultures and traditions of the world by focusing on the optimistic and positive aspects

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