Hong Kong Airlines Completes the Acquisition
Hong Kong Airlines announced that the transaction of 51% shares of SATS HK Limited (“SATS HK”) has been completed today. The Company, through its wholly owned subsidiary Voltaire Capital Investment Limited (“VCIL”), entered into a Sales and Purchase Agreement with SATS Limited regarding the acquisition of 51% shares of SATS HK.
The completion of the transaction enables Hong Kong Airlines to provide more comprehensive ground handling services at its home base Hong Kong International Airport (“HKIA”), as well as to enhance its overall service quality while the airline’s business keeps going global.
SATS HK will also continue to provide ground handling services to other airline clients with an enlarged scale of operations through this new strategic partnership with Hong Kong Airlines.