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Singapore’s Temasek mull stakes in Hong Kong’s airlines

Singapore state investor Temasek Holdings has showed interest in buying Chinese conglomerate HNA’s Hong Kong-based carriers, namely Hong Kong Airlines and Hong Kong Express Airways.
Singapore’s Temasek mull stakes in Hong Kong’s airlines ảnh 1A Hong Kong Airlines passenger plane taxies on the tarmac at Hong Kong Airport in Hong Kong, China (Photo: Reuters)

Singapore (VNA) – Singapore state investor Temasek Holdings has showedinterest in buying Chinese conglomerate HNA’s Hong Kong-based carriers, namely HongKong Airlines and Hong Kong Express Airways.

Last week, Temasek, the majority shareholder in Singapore Airlines Ltd, andHNA, an aviation-to-financial services conglomerate, agreed to explore businesspartnerships in aviation and logistics.

HNA is looking to raise funds for the Hong Kong airlines and Temasek is apotential investor.

A stake in Hong Kong airlines is expected to help Temasek get an aviation footholdcloser to mainland China.

Corrine Png, the chief executive of Crucial Perspective, a transport researchfirm, estimated that Hong Kong Airlines would be valued at about 1.1 billionUSD and HK Express at some 300 million USD.

Hong Kong Airlines has 37 mostly wide-body jets with 24 more on order as itexpands into long-haul markets in North America and Europe. Meanwhile, HongKong Express has 24 narrow body jets.

Earlier, Temasek and Singapore Airlines had targeted the Chinese market with aplanned purchase of a 24 percent stake in China Eastern that was rejected bythe mainland carrier’s shareholders in 2008. The stake, then worth 923 millionUSD, would now be valued at 3.4 billion USD.-VNA
VNA
#Singapore state investor Temasek Holdings#HNA’s Hong Kong-based carriers#namely Hong Kong Airlines#Hong Kong Express Airways#aviation foothold#long-haul markets#Vietnam News Agency#Vietnamplus
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