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14-Nov-2017 12:05 PM

Cathay Pacific to take full ownership of Air Hong Kong

Cathay Pacific Group stated (13-Nov-2017) it expects to acquire DHL International's 40% stake in Air Hong Kong upon expiry of the joint venture agreement and block space agreement between Air Hong Kong and DHL on 31-Dec-2018. Cathay Pacific will acquire DHL's stake for a consideration equal to its nominal value and attributable retained earnings. Air Hong Kong and DHL will enter a new block space agreement, under which Air Hong Kong will operate an agreed freighter network to destinations in Asia for DHL and will receive agreed service fees and reimbursement of operating expenses. [more - original PR]

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