Hong Kong Airlines Preps for IPO
In an attempt to break up Cathay Pacific Airways Ltd. near monopoly on the Hong Kong-London business class route, Hong Kong Airlines Ltd. initiated it’s own all business class long-haul flight yesterday between the two locales. The airline is considering it one of the first in a series of strategic developments that they will soon undergo as part of a massive expansion intended to spark further interest in investors prior to their initial public offering, which is already expected to raise upwards of US$250 million later this year.
Business and premium class passengers will enjoy flying aboard HKA’s Airbus 330 on the daily Hong Kong to London Gatwick route. For such a 12-hour+ flight, the A330 offers two types of exquisitely comfortable seating; 35 first- and 82 business-class seats.
Last week HKA entered into the fiercely competitive route to the Taiwanese capital of Taipei, offering 21 weekly flights aboard more than 20 Boeing and Airbus jets. The also initiated two other new routes, operating six weekly 737 flights to Kaohsiung and 737-500 flights to Mainland China’s Nanjing 11 times weekly. Speculators are considering such movements bold, to say the least, as the competition in grueling, the fuel prices are increasing and the economy is still vicarious. However, their ambitions may just lead to slightly better travel prices on such routes, which certainly has us smiling!