Hong Kong Airlines (HX) plans to launch an IPO this year to raise about $200-$300 million to fund its fleet expansion. HX chairman Yang Jianhong said the company is keeping a close watch on the market for the proper timing of the IPO. “Hopefully, we can do it this year,” he said.
The Hong Kong-based carrier, launched in 2006, operates a fleet of around 18 aircraft with its sister airline, Hong Kong Express Airways, on more than 30 routes.
The company is scheduled to take delivery of 14-15 aircraft this year to open more routes from Hong Kong to other Asian countries and Europe to compete with Cathay Pacific Airways (CX). HX is expected to take delivery of more than 50 aircraft by 2015.
The carrier announced earlier this month it would launch all-premium class flights on the Hong Kong (HKG)-London Gatwick (LGW) route with Airbus A330-200s from March 7. The HKG-LGW “golden” route is controlled by CX and British Airways.
Yang said HX plans to include sister carrier HX Express when it launches the IPO. HX Express operates five aircraft and plans to transition to a low-cost carrier.
Article Source : ATW Daily News
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