Cathay Pacific is poised to enter Asia’s LCC market, after announcing a deal to purchase 100% of Hong Kong Express (HKE) and operate it as a subsidiary. The carrier said the acquisition is valued at HK$4.93 billion ($628.1 million), comprising HK$2.25 billion in cash, and a non-cash component of HK$2.68 billion in a promissory loan note. HKE is currently controlled by China’s HNA Group, which has been divesting assets to resolve financial concerns. Cathay revealed on March 5 ...

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