January 2018
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New chapter for AHK
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AVIATION

In November, Cathay Pacific reached agreement with DHL to purchase the 40% shareholding in all-cargo carrier AHK Air Hong Kong Limited ("AHK") currently held by DHL subsidiary, Deutsche Post International B.V., for HK$36.268 million plus the retained earnings attributable to the AHK Minority Interest. As a result of the share transaction, AHK will become a wholly owned subsidiary of Cathay Pacific. Meanwhile, AHK entered into a sale and leaseback transaction with DHL to sell its eight Airbus A300-600F freighter aircraft and associated equipment to DHL for a cash consideration of HK$2,199 million; the freighters will be leased back to AHK by DHL. 


DHL acquired its shareholding in AHK from Cathay Pacific in 2002; since when, AHK has operated under a joint venture agreement, as part of which, it sells space to DHL on a network of overnight freight routes from its Hong Kong hub. Under a new Block Space agreement, AHK will operate an agreed freighter network to destinations in Asia for DHL and will receive agreed service fees and reimbursement of operating expenses.

Cathay Pacific first purchased a majority shareholding in AHK in 1994 and regards the airline as a key long-term strategic investment.
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Enhanced Singapore experience
Enhanced Singapore experience
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HAECO unveils new visitor centre
New partnership
New chapter for partnership
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SwireNews January 2018 issue
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