Strewth
Opinions are like a**e holes. We all have one. Dennis Kwok is expressing his own opinion which he is entitled to but it is obvious from the article that he has been lobbied by Qantas and the Ho’s. It should be pointed out that Stanley Ho started Hong Kong Express in 2004. In 2006 he sold 45% of the airline to Hainan Airlines. Hong Kong Express now has the same ownership as sister airline Hong Kong Airlines.
There has never been any argument from CX about LCC’s setting up in Hong Kong as long as they comply with the Basic Law.
The Basic Law was structured the way it was to protect Hong Kong airlines not just from Mainland Chinese airlines like China Eastern from setting up shop in Hong Kong but also any other foreign airline like Qantas or Jetstar from setting up shop here. In the same manner a Hong Kong airline can’t set up shop in Australia or China and operate an international airline, why do you think we should let them do it here when it is against the law.
Irrespective of where they have their shares listed the fact is China Eastern’s headquarters are in Shanghai and its principal place of business is Mainland China. Qantas’s headquarters are Sydney and its principal place of business is Australia. They represent 66% of Jetstar shareholding. Qantas are on the record for saying in 2012 Jetstar Hong Kong will have local management but command and control will lie with Qantas.
Swire Pacific is headquartered in Hong Kong where its principal place of business is. Air China’s headquarters are in Beijing with its principal place of business Mainland China. The remaining shareholders, 25%, are local investors. 70% of CX is locally controlled, fact.
Hong Kong Airlines is 55% owned by local businessman Mr Mung Kin Keung. His business interests are headquartered in Hong Kong where control lies. The remaining 45% is owned by Hainan Airlines through its holding company Grand China Air.