Cathay Pacific delays paying for Hong Kong Express as it fails to sell 747Fs

suparna © Studioportosabbia |

© Studioportosabbia

By Alex Lennane

20/05/2019

It all seems to be pretty messy at the moment, in Hong Kong’s aviation sector. The latest news is that Cathay Pacific is holding off on its first $153m payment for Hong Kong Express, over concerns about the ownership of three 747 freighters. Cathay had, reportedly, told the carrier to get rid of the freighters which were bought under “legally dubious circumstances”, reported CH Aviation. While Hong Kong Express owns them, one is operated by Turkey’s AirACT on behalf of Saudia Cargo, and another is operated by Suparna. Ultimate owner HNA Group had asked Avolon, in which it has a stake, to buy the aircraft – but the lessor refused. Messy indeed.

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Topics

Cathay Pacific Hong Kong Airlines Saudia Cargo Suparna air cargo market Air freight rates Compass Cargo DOT European Cargo Hainan Airlines Saudi Arabia US US DoT

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