Cathay Pacific has completed the acquisition of Hong Kong Express Airways (HK Express), and has also picked one of its own to head the wholly-owned subsidiary.
Ronald Lam, Cathay Pacific director commercial and cargo, will be the CEO of HK Express, which will remain as a stand-alone low-cost carrier to serve a niche market.
Cathay Pacific CEO and HK Express chairman Rupert Hogg said: “HK Express will continue to operate as a stand-alone airline using the low-cost carrier business model. I would also like to reassure HK Express customers that there is no change to the airline’s operating model and that business will continue as usual. There will be more value fares and more destinations available to travellers.”
Hogg added that the acquisition of HK Express is an attractive and practical way for the Cathay Pacific Group to develop and grow its aviation business over the long term, while also enhancing the competitiveness of its Hong Kong home base as a leading aviation hub.
“Our respective businesses and business models are largely complementary. HK Express captures a unique market segment that, together with the extensive network offered by the Cathay Pacific Group, could multiply connection opportunities through Hong Kong. This will bring tremendous benefits to the travelling public with more choices and greater convenience for their travel experience,” he said.