JetStar Hong Kong investors pull out

As expected, investors in JetStar Hong Kong have all decided to stop investing funds since the delay in approving the airline in Hong Kong drags on. Qantas, China Eastern Airlines and Shun Tak Holdings have all decided not to pursue the airline’s creation. The Hong Kong Air Transport Licensing Authority refused to grant the airline an air operator’s certificate in June because, in its opinion, it had failed to comply with the requirement to have its “principal place of business in Hong Kong”. Despite appeals, that decision is unlikely to be overturned.