Shun Tak Holdings to buy stake in new Jetstar Hong King airline

Shun Tak Holdings, run by the Asian casino tycoon Stanley Ho, has expressed an interest in buying a stake in the new Jetstar budget airline venture in Hong Kong being set up by Qantas and China Eastern Airlines. The transport company will pay $66 million for one third of the new Jetstar venture.
A local partner may help the airline achieve the necessary regulatory approvals to launch the airline by mid-2013. Hong Kong regulators have declared that new airlines have to be incorporated in and having their main place of business in Hong Kong to be approved.