Add-on Acquisition • Airlines

Cathay Pacific Airways Acquires HK Express

On March 27, 2019, Cathay Pacific Airways acquired airliner HK Express for 4.9B HKD

Acquisition Context

This is Cathay Pacific Airways’ 1st transaction in the Airlines sector.
This is Cathay Pacific Airways’ largest (disclosed) transaction.
This is Cathay Pacific Airways’ 1st transaction in China.

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M&A Deal Summary
Date	March 27, 2019
Target	HK Express
Sector	Airlines
Buyer(s)	Cathay Pacific Airways
Deal Type	Add-on Acquisition
Deal Value	4.9B HKD

Target Company

HK Express

Hong Kong, China

HK Express is a low-cost budget airline serving the Asia/Pacific region. HK Express was formed in 1995 and is headquartered in Hong Kong.

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Buyer Overview 1

Buyer

Cathay Pacific Airways

Hong Kong, China

Category	Company
Founded	1946
Sector	Airlines
Employees	32,200
Revenue	104.4B HKD (2024)

DESCRIPTION

Cathay Pacific Airways is a provider of operating scheduled airline services, airline catering, aircraft handling, aircraft engineering and cargo terminal operation. Cathay Pacific Airways was founded in 1946 and is based in Hong Kong, China.

Deal Context for Buyer	#
Overall	1 of 1
Sector: Airlines	1 of 1
Type: Add-on Acquisition	1 of 1
Country: China	1 of 1
Year: 2019	1 of 1
Size (of disclosed)	1 of 1

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Airlines M&A - Add-on Acquisition M&A Deals - China M&A - 2019 M&A