Cathay Pacific to gain full control of cargo carrier Air Hong Kong

Darafsh

The closing the of the deal originally announced in August, under which Cathay is set to take full control of its all-cargo subsidiary Air Hong Kong, which hitherto was 40% owned by DHL. Under the terms of the deal hammered out between the two companies, DHL will buy eight A300-600F converted freighters for US$282m and then lease them back to Cathay. The deal allows Cathay to funnel the initial proceeds back into Air Hong Kong to be used a working ...