Cathay Pacific to Buy HK Express

News Review • Asia/Pacific CATHAY PACIFIC Airways has agreed terms to purchase budget carrier HK Express (HKE) from Chinese conglomerate HNA Group. The details were contained within a filing to the Hong Kong Stock Exchange on March 27, which revealed Cathay will pay HK$4.93bn (£474.9m) as part of the acquisition, which is expected to be completed before the end of the year. The purchase will be made in cash and through promissory loan notes (a written guarantee of payment) As