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China Eastern Airlines confirms local investor in Jetstar Hong Kong, confident year-end operations

6-Jun-2013 9:53 AM

China Eastern Airlines chief economist Shan Chuanbo, speaking on the sidelines at the IATA annual general meeting in Cape Town, stated a Hong Kong investor, holding a one third stake, has been introduced to its Jetstar Hong Kong JV with Qantas and it is confident the start up carrier will be operational at the end of this year (Hong Kong Economic Journal, 04-Jun-2013). Mr Shan said the unnamed investor is unknown to the aviation industry but has an interest in aviation. Cathay Pacific is reportedly opposing the issuing of operating licence to Jetstar Hong Kong citing basic law 134, which states airlines seeking an operating licence in Hong Kong must “have their principal place of business in Hong Kong.” China Eastern has reportedly met with Hong Kong SAR Chief Executive CY Leung, who has expressed his support for the start-up carrier.