Cathay Pacific is in talks to buy a stake in budget carrier Hong Kong Express, the company announced Tuesday.
The airline said has not reached any agreement regarding the purchase, and it is not clear yet whether any agreement will be signed. The company said it would disclose further information at the “appropriate” time.
Cathay Pacific is a Hong Kong-based aviation group and the largest international carrier in Asia.
Hong Kong Express is an affiliate of the embattled HNA Group, and the only low-cost airline based in Hong Kong.
Related: Cathay Reports First-Ever Consecutive Annual Losses