Jetstar to launch Hong Kong based carrier
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Hong Kong do as their told from Beijing . Airlines of china slowly taking over Cathay and china eastern not wanted on their future patch . Connect the dots from there and the picture becomes clear .
TM
Do you know this from first hand experience? I've lived here for quite some time and for the most part, apart from constitutional matters, Beijing leaves us alone so that we can run ourselves.
Regarding CX's ownership, while CA owns 30% of CX, CX also owns 20% of CA. It is unlikely that this will change any time soon, i.e. the next 10 years at the earliest.
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Originally Posted by Toruk Macto
Hong Kong do as their told from Beijing . Airlines of china slowly taking over Cathay and china eastern not wanted on their future patch . Connect the dots from there and the picture becomes clear .
Regarding CX's ownership, while CA owns 30% of CX, CX also owns 20% of CA. It is unlikely that this will change any time soon, i.e. the next 10 years at the earliest.
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Announced today another partner onboard.
So this means Qantas has a third of the business.
Interesting.
Jetstar Hong Kong welcomes Shun Tak Holdings Ltd as a New Investor
So this means Qantas has a third of the business.
Interesting.
Jetstar Hong Kong welcomes Shun Tak Holdings Ltd as a New Investor
On a slightly different but related topic, the WA mining boom is now officially over because Alan has said it's not.
Link here
QANTAS chief executive Alan Joyce said the national carrier saw no signs of an end to the mining boom in Western Australia.
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from GG's link:
Shun Tak Holdings
This looks like a "tribute" payment to a local Chieftain ensuring "smooth passage" of the application.
Jetstar Hong Kong welcomes Shun Tak Holdings Ltd as a New Investor
AustraliaHong Kong 06 June 2013
more
Shun Tak has taken an equal third share in Jetstar Hong Kong along with existing partners Qantas Group and China Eastern Airlines.
As the new partnership was cemented, Jetstar Hong Kong Chief Executive Officer Edward Lau said “We are pleased to welcome Shun Tak to the new venture.”
“Shun Tak’s long history in tourism and transportation businesses will further deepen the experience behind Jetstar Hong Kong,” Mr Lau said.
“As Hong Kong’s only local low fares airline, having a strong local partner in Hong Kong like Shun Tak, who understands the revolution we want to bring to Hong Kong air travel, is of great benefit.
“We see enormous potential for a local LCC in Hong Kong and our low fares model will stimulate a new market, bringing significant opportunities to Hong Kong’s local tourism sector and our broader economy.”
Jetstar Hong Kong will complement Shun Tak’s extensive transportation and tourism portfolio.
“It has long been our vision to create an air-sea-land network that seamlessly connects the Pearl River Delta and facilitate its integration, under the spirit of Guangdong, Hong Kong and Macau development blue print as part of the Central Government policy. We believe a low-cost airline will be most efficient in driving growth across the leisure sector, and bring benefits to the complete visitor economy for Hong Kong, as well as contribute to the sustainable development of Hong Kong as the top aviation hub,” commented Ms Pansy Ho, Managing Director of Shun Tak Holdings Limited.
The new shareholding structure will not affect Jetstar Hong Kong’s planned capitalisation of a maximum of HKD1,544.4 million (USD198 million).
Jetstar Hong Kong is progressing with regulatory approvals and is confident of approval before end of 2013. The airline is led by a local management team with its head office overlooking Hong Kong International Airport. By the time it operates a full fleet of 18 A320 aircraft in 2015, Jetstar Hong Kong will employ a local team of 600 people, plus its local suppliers will create hundreds more jobs.
Jetstar Hong Kong intends to fly to destinations within five hours of Hong Kong and is considering destinations in Southeast Asia, Japan, South Korea and Mainland China.
For more information please contact Jetstar Corporate Communications
AustraliaHong Kong 06 June 2013
more
- Shun Tak Holdings Limited introduced as the third equal-share investor in Jetstar Hong Kong
- New partner will enrich the airline’s competitiveness with its solid transportation and hospitality experience
- Opportunity to grow the Hong Kong economy through the establishment of a local LCC moves closer
Shun Tak has taken an equal third share in Jetstar Hong Kong along with existing partners Qantas Group and China Eastern Airlines.
As the new partnership was cemented, Jetstar Hong Kong Chief Executive Officer Edward Lau said “We are pleased to welcome Shun Tak to the new venture.”
“Shun Tak’s long history in tourism and transportation businesses will further deepen the experience behind Jetstar Hong Kong,” Mr Lau said.
“As Hong Kong’s only local low fares airline, having a strong local partner in Hong Kong like Shun Tak, who understands the revolution we want to bring to Hong Kong air travel, is of great benefit.
“We see enormous potential for a local LCC in Hong Kong and our low fares model will stimulate a new market, bringing significant opportunities to Hong Kong’s local tourism sector and our broader economy.”
Jetstar Hong Kong will complement Shun Tak’s extensive transportation and tourism portfolio.
“It has long been our vision to create an air-sea-land network that seamlessly connects the Pearl River Delta and facilitate its integration, under the spirit of Guangdong, Hong Kong and Macau development blue print as part of the Central Government policy. We believe a low-cost airline will be most efficient in driving growth across the leisure sector, and bring benefits to the complete visitor economy for Hong Kong, as well as contribute to the sustainable development of Hong Kong as the top aviation hub,” commented Ms Pansy Ho, Managing Director of Shun Tak Holdings Limited.
The new shareholding structure will not affect Jetstar Hong Kong’s planned capitalisation of a maximum of HKD1,544.4 million (USD198 million).
Jetstar Hong Kong is progressing with regulatory approvals and is confident of approval before end of 2013. The airline is led by a local management team with its head office overlooking Hong Kong International Airport. By the time it operates a full fleet of 18 A320 aircraft in 2015, Jetstar Hong Kong will employ a local team of 600 people, plus its local suppliers will create hundreds more jobs.
Jetstar Hong Kong intends to fly to destinations within five hours of Hong Kong and is considering destinations in Southeast Asia, Japan, South Korea and Mainland China.
For more information please contact Jetstar Corporate Communications
Shun Tak Holdings Limited (信德集團有限公司) (SEHK: 0242) is a public company incorporated in 1972. It has been one of the constituents of the Hang Seng Hong Kong MidCap Index since 11 September 2006.
The company's founder and executive chairman is Stanley Ho. His daughter Pansy Ho serves as managing director[1] with two of his other daughters, Daisy Ho Chiu-fung and Maisy Ho Chiu-ha, as executive directors as well as David Shum.[2]
The company is active in shipping, property, hospitality and investments businesses. Its shipping division, operating under the name of TurboJET, operates ferry services between Hong Kong and Macau.
Until late 2010, Stanley Ho controlled the company. An 11.55 per cent stake in Shun Tak was transferred by Ho to Hanika Realty, a company controlled by second wife Lucina Laam and his five children with her. The transfer made Hanika Shun Tak's biggest single shareholder.[3]
The company's founder and executive chairman is Stanley Ho. His daughter Pansy Ho serves as managing director[1] with two of his other daughters, Daisy Ho Chiu-fung and Maisy Ho Chiu-ha, as executive directors as well as David Shum.[2]
The company is active in shipping, property, hospitality and investments businesses. Its shipping division, operating under the name of TurboJET, operates ferry services between Hong Kong and Macau.
Until late 2010, Stanley Ho controlled the company. An 11.55 per cent stake in Shun Tak was transferred by Ho to Hanika Realty, a company controlled by second wife Lucina Laam and his five children with her. The transfer made Hanika Shun Tak's biggest single shareholder.[3]
This looks like a "tribute" payment to a local Chieftain ensuring "smooth passage" of the application.
Nunc est bibendum
Yet no news in the Oz about J* HKG struggling. I wonder why that is? Surely Steve isn't waiting so its buried in the aviation section tomorrow? 
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Stanley Ho’s Shun Tak Acquires Stake in Jetstar Hong Kong
By Jasmine Wang - Jun 6, 2013 10:21 AM ET
Qantas Airways Ltd. (QAN) and China Eastern Airlines Corp. (670)’s Hong Kong budget airline venture sold a stake in their airline to a company founded by billionaire Stanley Ho, which will help pave the way for an operating license.
The low-cost carrier, called Jetstar Hong Kong, sold a 33.3 percent stake to Shun Tak Holdings (242), Sydney-based Qantas said in a statement today. Qantas and China Eastern will hold 33.3 percent each, according to the statement.
The total capitalization of Jetstar Hong Kong remains unchanged at $198 million. With the addition of the partner, Qantas group cut its initial planned equity investment to $66 million from up to $99 million. China Eastern and Shun Tak will also contribute up to $66 million each, the statement said.
A local investor may help Jetstar Hong Kong win operating license from the local government. Failure to get the permit has delayed the venture’s operations, damping Qantas Chief Executive Officer Alan Joyce’s move to tap travel demand in China with a discount carrier.
According to the city’s basic law, the local government has the authority to issue licenses to airlines incorporated in Hong Kong and having principal place of business in the city.
Shun Tak’s biggest shareholders include firms owned by Ho’s daughters and himself. Its business range from property development, ferry services between Hong Kong and Macau, hotels and investment.
Chinese Cities
Jetstar Hong Kong will focus on flying to secondary Chinese cities, Qantas Chief Executive Officer Alan Joyce said in April. The airline will have about 18 aircraft, he said.
The first Hong Kong-based budget airline will offer 50 percent lower airfares on average than those by full-service carriers, Jetstar Hong Kong Chief Executive Officer Edward Lau said in February.
The new venture targets its first flights by the end of this year with two Airbus SAS (EAD) A320s, China Eastern vice chairman Ma Xulun said in March. Previously, the budget carrier aimed to start services as early as this month with three A320s.
No budget carrier has a hub at Hong Kong Airport. Hong Kong Express, an affiliate of Hong Kong Airlines, has said it will convert to a low-cost model. Oasis Hong Kong Airlines Ltd., which operated budget long-haul flights, collapsed in 2008 after racking up losses of about HK$1 billion ($129 million) in less than two years.
To contact the reporter on this story: Jasmine Wang in Hong Kong at [email protected]
To contact the editor responsible for this story: Anand Krishnamoorthy at [email protected].
By Jasmine Wang - Jun 6, 2013 10:21 AM ET
Qantas Airways Ltd. (QAN) and China Eastern Airlines Corp. (670)’s Hong Kong budget airline venture sold a stake in their airline to a company founded by billionaire Stanley Ho, which will help pave the way for an operating license.
The low-cost carrier, called Jetstar Hong Kong, sold a 33.3 percent stake to Shun Tak Holdings (242), Sydney-based Qantas said in a statement today. Qantas and China Eastern will hold 33.3 percent each, according to the statement.
The total capitalization of Jetstar Hong Kong remains unchanged at $198 million. With the addition of the partner, Qantas group cut its initial planned equity investment to $66 million from up to $99 million. China Eastern and Shun Tak will also contribute up to $66 million each, the statement said.
A local investor may help Jetstar Hong Kong win operating license from the local government. Failure to get the permit has delayed the venture’s operations, damping Qantas Chief Executive Officer Alan Joyce’s move to tap travel demand in China with a discount carrier.
According to the city’s basic law, the local government has the authority to issue licenses to airlines incorporated in Hong Kong and having principal place of business in the city.
Shun Tak’s biggest shareholders include firms owned by Ho’s daughters and himself. Its business range from property development, ferry services between Hong Kong and Macau, hotels and investment.
Chinese Cities
Jetstar Hong Kong will focus on flying to secondary Chinese cities, Qantas Chief Executive Officer Alan Joyce said in April. The airline will have about 18 aircraft, he said.
The first Hong Kong-based budget airline will offer 50 percent lower airfares on average than those by full-service carriers, Jetstar Hong Kong Chief Executive Officer Edward Lau said in February.
The new venture targets its first flights by the end of this year with two Airbus SAS (EAD) A320s, China Eastern vice chairman Ma Xulun said in March. Previously, the budget carrier aimed to start services as early as this month with three A320s.
No budget carrier has a hub at Hong Kong Airport. Hong Kong Express, an affiliate of Hong Kong Airlines, has said it will convert to a low-cost model. Oasis Hong Kong Airlines Ltd., which operated budget long-haul flights, collapsed in 2008 after racking up losses of about HK$1 billion ($129 million) in less than two years.
To contact the reporter on this story: Jasmine Wang in Hong Kong at [email protected]
To contact the editor responsible for this story: Anand Krishnamoorthy at [email protected].
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Ho's, Pansy'a and Wangs??
And QF will pay through the nose for this. They needed somebody to help them save face because Orangestar was never going to cut it alone, and wee man needs to save face. I am sure that there will be many robust money transactions involved in this one, no doubt the QF shareholders will be at the bottom of the beneficiaries list, as usual.
Nice article. And some of the names mentioned, Wangs and Pansy Ho, perhaps relatives of some senior QF people??
Nice article. And some of the names mentioned, Wangs and Pansy Ho, perhaps relatives of some senior QF people??
Last edited by 004wercras; 6th Jun 2013 at 03:32.
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And QF will pay through the nose for this.
Last edited by breakfastburrito; 6th Jun 2013 at 03:39.
I wonder which countries are moving to the front of the queue for the Leprechaun's next grand adventure? Jetstar India? Jetstar China? Jetstar Indonesia perhaps?
C'mon guys. The Leprechaun with the Messiah complex is looking to play, so if you want to get your hands on some of "struggling" mainline's hard-earned, just stroke the ego of the QF management genius and the cash will soon start rolling in.
C'mon guys. The Leprechaun with the Messiah complex is looking to play, so if you want to get your hands on some of "struggling" mainline's hard-earned, just stroke the ego of the QF management genius and the cash will soon start rolling in.
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History will show that is never going to happen until
1. Chairmans lounge closes.
2. Board is held accountable.
3. Major fund managers stop taking the spin.
4. All 3 of the above happens.
It beggars belief that the constant changes in plans is never questioned by anyone, why....refer above.
1. Chairmans lounge closes.
2. Board is held accountable.
3. Major fund managers stop taking the spin.
4. All 3 of the above happens.
It beggars belief that the constant changes in plans is never questioned by anyone, why....refer above.
Last edited by ohallen; 6th Jun 2013 at 10:38.
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Stanley Ho - Wikipedia, the free encyclopedia
In Australian terms, Mr Stanley Ho would be described as a "colourful racing identity"
Making his fortunes is gambling, seems his JQ HGK folly is an extension of his past activities.
MC
In Australian terms, Mr Stanley Ho would be described as a "colourful racing identity"
Making his fortunes is gambling, seems his JQ HGK folly is an extension of his past activities.
MC
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There wouldn't be too many on this forum that wouldn't like to see the qantas group expand and increase pilot opportunities.
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There was an article in today's Apple Daily (unfortunately in Chinese) in Hong Kong, with Hong Kong Chief Executive CY Leung being quoted as saying that he doesn't think LCCs add much to the economy, and he's against giving Jetstar Hong Kong an AOC.
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DrPepz, translate.google.com made short work of the apple news article: http://hk.apple.nextmedia.com/news/f...30607/18287961
How did it do?
How did it do?
Pansy gamble engage low cost airlines
WASHINGTON bet after Pansy Ho Shun Tak Holdings held spent over $ 500 million stake in Jetstar Hong Kong, trying to challenge Cathay Pacific Hong Kong dominated, but the master of the aviation industry insider sources, CY Leung oppose licensing that low cost airlines for contribute little to the economy, the future is uncertain Pansy involved in aviation business, this shop always betting on the wrong note.
Reporter: Lu Zhuo Wu Yongqiang were Qantas subsidiary Jetstar cheap Air Group, following in Tokyo, Singapore and Vietnam have established a headquarters last year after July joint venture with China Eastern Airlines HK $ 1.544 billion Hong Kong set up Jetstar, based in Hong Kong to enter the mainland market, but the absence of shareholders in Hong Kong , was questioned non-principal place of business, the Government does not match the licensing requirements, it has been a minor thing. Jetstar Hong Kong, one of the shareholders of China Eastern Airlines, a number of high-level meetings last year, and Leung Chun-ying, was encouraged to invest in Hong Kong.
Spend over $ 500 million stake in Jetstar Hong Kong held a press conference yesterday to announce Shun Tak Holdings shares for $ 66 million (approximately HK $ 515 million), with each one-third of existing shareholders equity. Pansy Ho, Managing Director of Shun Tak said, investing mainly optimistic about its prospects of low cost airlines, low cost airlines refers to the global aviation industry trends, but also for the public to provide more travel choices and bring economic benefits.
Jetstar Hong Kong has not licensed, the city passed by the holders of Cathay Pacific obstruction Pansy yesterday stressed the intention to challenge Cathay Pacific, "Nuisance eligibility challenges, but also she has no need to challenge Drainage (CPA)." But she must've said: "I Do not believe it generous full-Asia's most important airports, Well you can accommodate more than one airline." Ho early in the aerospace industry has invested Air Macau and Hong Kong Express, but the results are not ideal.
Jetstar Hong Kong chief executive, said Edward Lau as eligible before the end of the license, the fastest into service early next year, will cover operational early routes from Hong Kong 5 hours voyage locations such as Southeast Asian countries, Japan, South Korea and mainland China, promised fare "minimum ratio opponents flat five percent. " He said the first phase of a three Airbus A320 flights will later purchase and lease 18 new Airbus A320 aircraft operations, others employ approximately 1,000 employees, has received more than 2,500 pilots and 600 flight attendants applications.
According to the aviation industry estimates, an airline early opening, assuming operating three aircraft, fuel costs, airport charges, staff costs, etc., burn about $ 20 million per month.
Delay unlicensed Jetstar sail is unknown when Hong Kong, Liu said yesterday in accordance with government requirements continue to submit additional information, are confident that the end of the year was a license. He was referring to existing shareholders in Hong Kong Hong Kong Jetstar, seven members of the Board that there were four people of Hong Kong identity management are all Hong Kong people have to meet the "Basic Law" provisions and licensing requirements.
Jetstar plan may come to nothing, however, told us that the aviation industry, Cathay Pacific to pressure the government, non-Jetstar Hong Kong is not a license key factor because the Transport and Housing Bureau preliminary assessment that the new low cost airlines company can stimulate competition and improve the overall services, it will not increase the load of airport facilities, the support licensing.
Chief Executive: little contribution to Hong Kong
But against all the odds, but CY Leung, it is understood within the government meeting he said that freedom rights is an important economic asset, our airport facilities are limited, and the low cost airlines passengers non-high consumer group, contribute little to the economy of Hong Kong, indicating disapproval licensing.
Secretary for Transport and Housing Anthony yesterday unanimously agreed, saying the new government is a comprehensive review policy before the completion of the review, will not deal with the application for the designated airlines of Hong Kong, meaning not bother Jetstar to Hong Kong.
Leung Chun-ying of aviation industry on the licensing of low cost airlines do not feel angry, "Mr Leung in Hong Kong since the system must be reduced competitiveness." According to the information, low cost airlines account for only 5% of the local market share, Chinese University of Aviation Policy and Research Center, deputy director kwok said that the new low cost airlines and passengers benefit to the economy, the introduction of Jetstar Hong Kong shareholders, operational interests of Hong Kong as the first, it would have met " principal place of business in Hong Kong ", should be licensed, or at any time subject to judicial review challenge.
Cathay Pacific said no objection low cost airlines operating in Hong Kong, referring to a number of low cost airlines Cathay Pacific and compete with confidence the Government review the application, will be "Basic" in mind, safeguard interests of Hong Kong. Hong Kong Airlines president Yang Jianhong said: "do yourself, regardless of others."
WASHINGTON bet after Pansy Ho Shun Tak Holdings held spent over $ 500 million stake in Jetstar Hong Kong, trying to challenge Cathay Pacific Hong Kong dominated, but the master of the aviation industry insider sources, CY Leung oppose licensing that low cost airlines for contribute little to the economy, the future is uncertain Pansy involved in aviation business, this shop always betting on the wrong note.
Reporter: Lu Zhuo Wu Yongqiang were Qantas subsidiary Jetstar cheap Air Group, following in Tokyo, Singapore and Vietnam have established a headquarters last year after July joint venture with China Eastern Airlines HK $ 1.544 billion Hong Kong set up Jetstar, based in Hong Kong to enter the mainland market, but the absence of shareholders in Hong Kong , was questioned non-principal place of business, the Government does not match the licensing requirements, it has been a minor thing. Jetstar Hong Kong, one of the shareholders of China Eastern Airlines, a number of high-level meetings last year, and Leung Chun-ying, was encouraged to invest in Hong Kong.
Spend over $ 500 million stake in Jetstar Hong Kong held a press conference yesterday to announce Shun Tak Holdings shares for $ 66 million (approximately HK $ 515 million), with each one-third of existing shareholders equity. Pansy Ho, Managing Director of Shun Tak said, investing mainly optimistic about its prospects of low cost airlines, low cost airlines refers to the global aviation industry trends, but also for the public to provide more travel choices and bring economic benefits.
Jetstar Hong Kong has not licensed, the city passed by the holders of Cathay Pacific obstruction Pansy yesterday stressed the intention to challenge Cathay Pacific, "Nuisance eligibility challenges, but also she has no need to challenge Drainage (CPA)." But she must've said: "I Do not believe it generous full-Asia's most important airports, Well you can accommodate more than one airline." Ho early in the aerospace industry has invested Air Macau and Hong Kong Express, but the results are not ideal.
Jetstar Hong Kong chief executive, said Edward Lau as eligible before the end of the license, the fastest into service early next year, will cover operational early routes from Hong Kong 5 hours voyage locations such as Southeast Asian countries, Japan, South Korea and mainland China, promised fare "minimum ratio opponents flat five percent. " He said the first phase of a three Airbus A320 flights will later purchase and lease 18 new Airbus A320 aircraft operations, others employ approximately 1,000 employees, has received more than 2,500 pilots and 600 flight attendants applications.
According to the aviation industry estimates, an airline early opening, assuming operating three aircraft, fuel costs, airport charges, staff costs, etc., burn about $ 20 million per month.
Delay unlicensed Jetstar sail is unknown when Hong Kong, Liu said yesterday in accordance with government requirements continue to submit additional information, are confident that the end of the year was a license. He was referring to existing shareholders in Hong Kong Hong Kong Jetstar, seven members of the Board that there were four people of Hong Kong identity management are all Hong Kong people have to meet the "Basic Law" provisions and licensing requirements.
Jetstar plan may come to nothing, however, told us that the aviation industry, Cathay Pacific to pressure the government, non-Jetstar Hong Kong is not a license key factor because the Transport and Housing Bureau preliminary assessment that the new low cost airlines company can stimulate competition and improve the overall services, it will not increase the load of airport facilities, the support licensing.
Chief Executive: little contribution to Hong Kong
But against all the odds, but CY Leung, it is understood within the government meeting he said that freedom rights is an important economic asset, our airport facilities are limited, and the low cost airlines passengers non-high consumer group, contribute little to the economy of Hong Kong, indicating disapproval licensing.
Secretary for Transport and Housing Anthony yesterday unanimously agreed, saying the new government is a comprehensive review policy before the completion of the review, will not deal with the application for the designated airlines of Hong Kong, meaning not bother Jetstar to Hong Kong.
Leung Chun-ying of aviation industry on the licensing of low cost airlines do not feel angry, "Mr Leung in Hong Kong since the system must be reduced competitiveness." According to the information, low cost airlines account for only 5% of the local market share, Chinese University of Aviation Policy and Research Center, deputy director kwok said that the new low cost airlines and passengers benefit to the economy, the introduction of Jetstar Hong Kong shareholders, operational interests of Hong Kong as the first, it would have met " principal place of business in Hong Kong ", should be licensed, or at any time subject to judicial review challenge.
Cathay Pacific said no objection low cost airlines operating in Hong Kong, referring to a number of low cost airlines Cathay Pacific and compete with confidence the Government review the application, will be "Basic" in mind, safeguard interests of Hong Kong. Hong Kong Airlines president Yang Jianhong said: "do yourself, regardless of others."
Last edited by breakfastburrito; 7th Jun 2013 at 02:27.