Cathay Does a U-Turn on Budget Carrier With HK Express Talks
- Chairman Slosar says carrier needs to change with events
- CEO Hogg previously said it had broadly no plans for an LCC
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Cathay Pacific Airways Ltd. is having a change of heart about the budget-airline business.
At an earnings briefing in Hong Kong Wednesday, a reporter asked Chairman John Slosar why the premium airline was looking to the low-cost carrier business now after spurning that model earlier. Cathay said last week that it was in “active discussions” on an acquisition involving Hong Kong Express Airways Ltd., the city’s only budget airline.