HONG Kong will finally have its own homegrown low-cost carrier (LCC) when Hong Kong Express Airways – part of the Hainan Airlines group – adopts a low-cost model in mid-2012.

The yet-to-be-renamed carrier will operate a fleet of 15 Airbus A320 aircraft over the next three to four years, while its existing group of Boeing B737-800 planes will be transferred to Hong Kong Airlines.

The LCC is planning to operate to destinations such as Shanghai, Beijing, Seoul, Osaka, Taipei, Singapore and Kuala Lumpur. Hong Kong International Airport is already served by about a dozen foreign LCCs including Jetstar Asia, Tiger Airways, AirAsia, Spring Airlines, Jin Air and Cebu Pacific.

The new airline is currently looking to hire a CEO with previous LCC experience in Europe.

Hong Kong’s previous attempt at operating an LCC failed when Hong Kong Oasis Airlines ceased operations in 2008, after having served London (Gatwick) and Vancouver using B747-400 aircraft.