While HNA Group affiliate Hong Kong Airlines is running into serious financial difficulties and is teetering on the verge of collapse, its dedicated airfreight subsidiary, Hong Kong Air Cargo, appears to be conducting business as usual.
Hong Kong Air Cargo’s five A330-200Fs are currently all flying, operating services between Hong Kong (HKG) and destinations such as Almaty (ALA), Bangkok (BKK), Dhaka (DAC), Hanoi (HAN), Istanbul (ISL), Kuala Lumpur (KUL), Shanghai (PVG), Singapore (SIN), Taipei (TPE) and Zhengzhou (CGO). The carrier also manages the belly capacity on Hong Kong Airlines’ fleet of A320s, A330s and A350-900s.
Hong Kong’s Air Transport Licensing Authority (ATLA) said today that Hong Kong Airlines must “ensure cash injection” (of an undisclosed amount) and “raise and maintain its cash and cash equivalent level as stipulated by ATLA.” Failure to do so could result in the ATLA revoking or suspending the airline’s licence.
Under the ATLA, Hong Kong Air Cargo holds a separate licence from Hong Kong Airlines, granted for a period of five years on April 20, 2017. The carrier also holds a separate Air Operator Certificate (AOC) from Hong Kong Airlines, granted by the Civil Aviation Department.
In August 2017, Atlas Air announced that it would be placing three 747-400Fs in ACMI operation with Hong Kong Air Cargo, flying routes between Asia and the U.S. Hong Kong Air Cargo also entered into a partnership with Turkish Cargo in November 2018.
Hong Kong Air Cargo obtained IOSA accreditation from IATA in September 2018 and became a full IATA member in January 2019.