Cathay Pacific sells stake in engineering firm
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Cathay Pacific has agreed to sell a HK$1.9 billion (US$244 million) stake in its engineering affiliate, Hong Kong Aircraft Engineering Company (HAECO), to Swire Pacific. According to a ChannelNewsAsia report, the move is part of the carrier’s efforts to improve the airline’s cash position during the economic downturn.
Comments are closed.