GGRAsia – Genting HK unit agrees to buy an aircraft

Genting HK unit agrees to buy an aircraft

Dec 22, 2015 Newsdesk Latest News, Top of the deck, World

Genting Hong Kong Ltd says a deal between connected companies will see the purchase of an Airbus ACJ319 aircraft (a type pictured in file photograph).

The group added in a filing to the Hong Kong Stock Exchange that the deal was in relation to its luxury cruise and travel business “primarily in the name of Crystal Cruises”.

The group in March agreed to acquire U.S.-based Crystal Cruises Inc and its subsidiaries for a total consideration of US$550 million. Genting Hong Kong – part of Malaysian conglomerate Genting Bhd – owns and runs Star Cruises, an operator of casino cruise ships in the Asia-Pacific region.

Genting Hong Kong is also major shareholder in Norwegian Cruise Line, and is a substantial shareholder in Philippines-based Travellers International Hotel Group Inc, owner and operator of the Resorts World Manila casino property.

Genting Hong Kong said the group’s purchase of the aircraft – for a consideration of US$23 million – was by Crystal Luxury Airbus Holdings Ltd, an indirect wholly-owned subsidiary, from Genting Singapore Aviation III Ltd, a wholly-owned subsidiary of Singapore casino operator Genting Singapore Plc, also controlled by Genting Bhd.

Genting Hong Kong said the transaction would “allow the group to expand its aircraft fleet for Crystal and more importantly support its cruise and yacht itineraries, luxury air travel product, Crystal Luxury Air Cruises, which is to be launched.”

The Airbus ACJ319 type is a corporate jet version of the A319 civil transport airliner. It typically seats between 19 and 50 passengers and has a range of 11,100 kilometres (6,900 miles) according to the Airbus corporate website.