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Hong Kong Airlines ownership hearing set
June 14th 2019
Management gaining momentum, asking faction leader to pay damages. Read More »
Hong Kong Airlines (HKA) management appears to be regaining the initiative and positioning the airline for the long-term.
A legal battle for the airline’s ownership has been underway since April, but management on June 5 asked Hong Kong’s High Court for an initial US$12 million in damages from the warring faction led by Zhong Guosong. The court set August 22-23 for a hearing to determine the airline’s lawful ownership, although the court may not make its decision for some time afterwards.
The lawyer representing management said the airline wanted an injunction against management discharged so management could take all steps necessary beyond day-to-day business they were previously limited to.
Separately, HKA has transferred to sister HNA carrier Hainan Airlines the rights of A350-900s with serial numbers 306365 and 360371, according to a disclosure from Hainan Airlines on the Shanghai Stock Exchange.
