Jetstar Hong Kong’s local investor reflects HK’s new attitude, learning from Hong Kong Airlines

Jetstar Hong Kong's decision to introduce a third investor - and its first based in Hong Kong - should be seen in the context of changing attitudes in Hong Kong. While the territory wants to be pro-competitive, it is mindful of its experience with Hong Kong Airlines.

Of greater interest to the Hong Kong regulators than share ownership of a prospective airline is where control rests. Hong Kong wants to ensure any future airline has unimpeded growth and maximises potential, for itself and Hong Kong. For example, Hong Kong Airlines is owned by mainland China's HNA Group and largely run by HNA executives on secondment. The busy and expansive nature of HNA has, on this thesis, meant that Hong Kong Airlines has missed out on orderly growth.

The introduction of casino mogul Stanley Ho's Shun Tak Holdings to Jetstar Hong Kong with a 33.3% stake gives Jetstar Hong Kong local ownership, which is not required presently but may be so, directly or indirectly, in the future.