Hong Kong Airlines’s IPO plans may be delayed as the carrier is discussing the possibility of a private offering for strategic investors.
The carrier applied with the Hong Kong Stock Exchange for an IPO in September 2014, launching bourse shares in both RMB and HKD to raise US$500 million for the first time in the Hong Kong. The original timeframe for the IPO was in the first half of 2015.
A regional short-haul carrier with a fleet of 24 aircraft, Hong Kong Airlines mainly operates flights from Hong Kong to popular Southeast Asian destinations like Phuket, Thailand, and mainland China.
Owned by China’s Hainan Airlines, Hong Kong Airlines was set up in 2006 in an attempt to break the dominance of Cathay Pacific and its subsidiary Dragonair in the Hong Kong aviation market.
However, fierce competition forced the carrier to end its long-haul services to Mexico and London to focus on short-haul regional routes instead.(Translation by David)
