25-Nov-2010 11:31 AM

Hong Kong Airlines considers back-door listing or issue of new shares

Hong Kong Airlines President Yang Jianhong stated the carrier is considering listing its proposed HKD5 billion (USD644 million) IPO in Hong Kong through back-door listing or the issuance of new shares (Money.163.com, 24-Nov-2010). Mr Yang stated although there is currently no timeframe for the proposed listing, the carrier hopes to complete preparations for listing before Jun-2011. Mr Yang stated he remains optimistic regarding the industry's prospects. Since 2006, Hong Kong Airlines has placed orders for 50 aircraft, which are scheduled to commence delivery from next year. By 2012, the carrier plans to take delivery of at least 18 aircraft, for a total fleet of 40 aircraft. Over the next five to 10 years, the carrier will have more than 100 aircraft.