Hong Kong Airlines to Engage SATS HK and AAT for Ramp and Cargo Handling Services

Hong Kong Airlines, through its wholly owned subsidiaries, has entered into Sales and Purchase Agreements regarding the acquisition of 51% shares of SATS HK Limited (“SATS HK”) Limited and 35% shares of Asia Airfreight Terminal Company Limited (“AAT”) respectively, subject to the approval from regulatory authorities and third party consents.

More cooperation between Hong Kong Airlines and the two companies is expected in the future, which will support the airline’s increasing ground and cargo handling needs.

Mr Wang Liya, President of Hong Kong Airlines said, “As an acclaimed full-service airline firmly rooted in Hong Kong and the second largest carrier at HKIA, Hong Kong Airlines is committed to progress in step with Hong Kong. We have experienced robust growth since our establishment in 2006, as demonstrated by our continuous growth in passenger volume which reached 28 million over the past decade, translating to a strong compound annual growth rate (CAGR) of more than 20%. The acquisitions of SATS HK and AAT will not only bring synergies to our increasing scale of operations and establishments at the HKIA, they also represent another important milestones in the evolution of our company to become a globally-recognized carrier. We believe the acquisitions will further step up our efforts in strengthening Hong Kong’s position as the international aviation hub.”