Cathay Pacific sells 15% stake in Haeco

The Hong Kong airline pockets $333 million from the sale to Swire as the company's capital expenditure and loan repayments rise.

Cathay Pacific sells 15% stake in Haeco
Cathay Pacific Airways and Continental Airlines aircraft parked at Haeco

Cathay Pacific Airways is selling its remaining 15% stake in Hong Kong Aircraft Engineering Company Haeco to Swire Pacific for HK$2.6 billion $333 million, its third asset sale in the past year as the airline's capital expenditure and loan repayments rise.

Under the terms of the deal, Swire will acquire the airline's 24.9 million shares in Haeco for HK$105 per share, a 25% premium above their closing price on Friday the three involved parties were all...

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