Qantas Airways (QUBSF.PK) has sold part of its stake in startup Jetstar Hong Kong to Shun Tak Holdings. Originally a 50-50 joint venture with China Eastern Airlines (CEA), the new low-cost carrier now has three equal investors. The hope is that the inclusion of a local investor (Shun Tak founder is Hong Kong billionaire Stanley Ho) will help the new airline get its operating license. Cathay Pacific (CPCAY.PK) has reportedly been opposing the license of a new competitor.
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