HONG KONG -- For the price of a handful of new planes, Cathay Pacific Airways' buyout of budget airline Hong Kong Express will reinforce the company's dominance over Asia's busiest international air hub as it completes a big expansion of capacity.
The premium airline announced on Wednesday that it had reached agreement to buy full control of Hong Kong Express from debt-strapped Chinese conglomerate HNA Group for 4.93 billion Hong Kong dollars ($628.12 million).
