Maintenance, repair and overhaul firm Hong Kong Aircraft Engineering (HAECO) has increased its stake in Taikoo Xiamen Aircraft Engineering (TAECO).
HAECO completed a deal to buy Kin Kuen Development's 2% stake for $8 million on 1 April, increasing its interest in TAECO to 58.55% from 56.55%.
TAECO, which is located at the Gaoqi International Airport in Xiamen, is the main provider of aircraft MRO services in the city.
HAECO, which is controlled by Cathay Pacific Airways and its parent Swire Pacific, offers MRO services at Hong Kong International Airport.
Source: Air Transport Intelligence news
