Cathay Pacific is in talks to acquire a stake in a low-cost Hong Kong airline from embattled Chinese conglomerate HNA.
The potential deal would mark a change for the indebted airline-to-finance conglomerate HNA, which has previously said it would divest part of its vast suite of property and financial assets but hold on to core aviation-related businesses.
Cathay is in “active discussions” to acquire shares in Hong Kong Express Airways from the Chinese group, the Hong Kong-listed carrier said in a stock market filing on Tuesday, made in response to local media reports saying it was in talks to buy stakes in both HKE and Hong Kong Airlines.
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