world of aviation logo

Cathay Pacific to sell HAECO stake

written by WOFA | June 8, 2010

Cathay Pacific has announced that it will sell its 15 per cent stake in Hong Kong Aircraft Engineering Company Limited (HAECO) to its major shareholder Swire Pacific for HK$2,620m (A$411m).

“The transaction is driven by the strategic priorities of Cathay Pacific and will benefit our core aviation business”, Cathay’s chief operating officer John Slosar said. Despite the sale HAECO will remain the airline’s main provider of maintenance and overhaul services.

Cathay also recently sold its stake in the new cargo terminal being built at Hong Kong International Airport.


Each day, our subscribers are more informed with the right information.

SIGN UP to the Australian Aviation magazine for high-quality news and features for just $99.95 per year