Wednesday, July 17, 2024

Cathay Pacific flies into second consecutive annual loss

Cathay Pacific Airways has made its second annual loss in a row due to factors including overcapacity and high fuel costs. Following a loss of 575 million Hong Kong dollars ($73 million) in 2016, Cathay Pacific made a loss of HK$1.2 billion in 2017, with the second half profit of HK$792 million not being able […]

DHL Express and Air Hong Kong extend agreement until 2033

DHL Express and Air Hong Kong have signed a 15-year block space agreement, enabling the carrier’s overnight air services to continue supporting the DHL Express network until 2033. As part of the agreement, DHL will sell its 40 per cent stake in Air Hong Kong (AHK) to majority-owner Cathay Pacific, and purchase eight of AHK’s […]

Cathay Pacific takes full control of Air Hong Kong

Air Hong Kong (AHK) is to become a wholly owned subsidiary of Cathay Pacific Airways, it was announced in a filing on the Hong Kong Stock Exchange. The non-binding memorandum of understanding will involve Cathay Pacific Group and DHL Group entering into the Share Transaction for the former to purchase the minority interest, AHK and […]