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Cathay to buy DHL's 40pc of AHK Air to boost e-commerce capacity
CATHAY Pacific Airways has agreed to buy out DHL's 40 per cent interest in AHK Air Hong Kong as part of Cathay's sweeping corporate reform programme.
AHK will continue to sell space on its freighters to DHL on an agreed e-commerce network of overnight routes for 15 years starting January 2019, Cathay said.
Under the non-binding preliminary agreement, Cathay will purchase the 40 per cent held by Germany's DHL, making AHK Air, a wholly owned subsidiary, according to a filing to the Hong Kong stock exchange.
Bloomberg reports that DHL will buy eight Airbus SE A300-600 freighters from AHK and lease them back.
Cathay, together with its Cathay Dragon unit, carried 11 per cent more freight in the first five months of 2017 than a year ago.
AHK will continue to sell space on its freighters to DHL on an agreed e-commerce network of overnight routes for 15 years starting January 2019, Cathay said.
Under the non-binding preliminary agreement, Cathay will purchase the 40 per cent held by Germany's DHL, making AHK Air, a wholly owned subsidiary, according to a filing to the Hong Kong stock exchange.
Bloomberg reports that DHL will buy eight Airbus SE A300-600 freighters from AHK and lease them back.
Cathay, together with its Cathay Dragon unit, carried 11 per cent more freight in the first five months of 2017 than a year ago.
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