Hong Kong Airlines secures strategic investment fund for restructuring

Hong Kong Airlines (HKA) has secured a strategic investment fund for the restructuring to take effect, including strategic route planning and fleet realignment, thereby expediting its business recovery and returning to a healthy growth trajectory.

This progress marks a significant milestone in HKA's history and reaffirms the company's commitment to contributing to Hong Kong's aviation industry and the city it has called home for over 16 years.

In the upcoming year, the company's focus remains on business recovery, supported by strategic route planning and fleet realignment, according to HKA chairman Hou Wei (pictured far right). "The company will strive to offer our customers more choices and top-notch service, strengthening our role in developing Hong Kong as a world-class aviation hub," Hou added.

Hou added that after three incredibly challenging years, HKA is ready to embark on a new chapter with its valued stakeholders, business partners, and customers.

A representative of the new investors attended the celebratory event and stated, "We are pledged to providing full support to HKA to take it to new heights again in the Hong Kong and international aviation markets. In addition, we will actively respond to the development of the Guangdong-Hong Kong-Macao Greater Bay Area and strive to strengthen Hong Kong's dominant position in the aviation sector. We are committed to building Hong Kong into an international hub."

MARKETING-INTERACTIVE has reached out to Hong Kong Airlines for more information. 

Don't miss: Hong Kong Airlines announces hiring spree amid recovery of air travel demand

Back in January this year, Hong Kong Airlines was seeking 1,000 new talents to join its workforce by the end of 2023 to meet operation needs and future growth, which will include 120 pilots, 500 cabin crew, and 380 ground staff that will be hired both locally and overseas, bringing the total workforce back to 60% to 70% of pre-pandemic levels.

This comes as Hong Kong has opened up to the world after three years of pandemic. The Hong Kong-based carrier expects to increase its flight operations to 30 sectors per day by January 2023, reaching 30% of those at pre-pandemic levels; flying to 15 regional destinations including Tokyo, Osaka, Okinawa, Sapporo, Seoul, Bangkok, Manila, Hanoi, Taipei, Beijing, Shanghai, Hangzhou, Nanjing, Chengdu, and Haikou, which is 50% of the operation level before the pandemic. The company is also looking to return to 75% of its operating capacity by the end of 2023, and 100% of its operations by mid-2024.

In another positive development, Hong Kong Airlines planned on awarding salary increments to both crew and ground staff. According to its official statement released on Thursday, this will include an 8% basic salary pay rise and up to a 10% increase to the flying hourly rate for crew members, whereas all ground staff will receive a 5% basic salary pay rise plus a discretionary 5% quarterly variable incentive effective 1 January 2023.

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