Airwise News
Air China may take over Cathay Pacific Airways as part of an industry consolidation which would create the world’s largest airline, a Hong Kong newspaper said on Wednesday.
The South China Morning Post said British-linked Swire Pacific, one of Hong Kong’s oldest trading houses, was in advanced negotiations that would see Cathay take over rival Dragonair before being subsumed itself into the Air China group, creating an aviation powerhouse.
Citing sources in the affected companies, the newspaper said Swire may accept Air China shares in return for its 45.73 percent stake in Cathay, a move that would make it a single largest shareholder in the mainland carrier and place its executives at the core of the new group’s operations.
The paper quoted a senior executive at Swire as saying that Cathay’s 10 percent investment in Air China in November was the first step in cementing a relationship.
Sources suggested that a deal could be announced within two weeks.
A Cathay spokeswoman in Hong Kong declined to comment on report.
The Hong Kong Economic Times reported Cathay was also in talks with China-focused conglomerate CITIC Pacific, which holds 26 percent of Cathay, and Dragonair’s main stakeholder China National Aviation Corporation.
A consolidation of the three carriers would create the world’s largest airline by market value which could feed an international customer base into Greater China’s most comprehensive route network, the Post added.
By: skycruiser - 18th March 2005 at 10:56
Ahhhhh rumors, rumors and more rumors.
By: skycruiser - 18th March 2005 at 10:56
Ahhhhh rumors, rumors and more rumors.
By: Grey Area - 17th March 2005 at 23:10
I thought you probably were…… 😀
By: Grey Area - 17th March 2005 at 23:10
I thought you probably were…… 😀
By: Bmused55 - 17th March 2005 at 23:09
silly me, getting them mixed up with China Airlines.
LOL
By: Bmused55 - 17th March 2005 at 23:09
silly me, getting them mixed up with China Airlines.
LOL
By: steve rowell - 17th March 2005 at 22:41
I wasn’t aware that Air China had a particularly bad safety record.
Is this the case?
I think the Execs at Air China would take umbrage to that
By: steve rowell - 17th March 2005 at 22:41
I wasn’t aware that Air China had a particularly bad safety record.
Is this the case?
I think the Execs at Air China would take umbrage to that
By: Bmused55 - 17th March 2005 at 16:57
“Plethora”???? 😀
Now, there’s a man with a vocabulary!
Hmmmm…..that I did not know.
LOL, I swallowed a dictionary a while back.
By: Bmused55 - 17th March 2005 at 16:57
“Plethora”???? 😀
Now, there’s a man with a vocabulary!
Hmmmm…..that I did not know.
LOL, I swallowed a dictionary a while back.
By: Grey Area - 17th March 2005 at 16:46
“Plethora”???? 😀
Now, there’s a man with a vocabulary!
Hmmmm…..that I did not know.
By: Grey Area - 17th March 2005 at 16:46
“Plethora”???? 😀
Now, there’s a man with a vocabulary!
Hmmmm…..that I did not know.
By: Bmused55 - 17th March 2005 at 16:44
I wasn’t aware that Air China had a particularly bad safety record.
Is this the case?
they do indeed.
2 crashes in 1 year (2003 I beleive) and a plethora of others in their history.
By: Bmused55 - 17th March 2005 at 16:44
I wasn’t aware that Air China had a particularly bad safety record.
Is this the case?
they do indeed.
2 crashes in 1 year (2003 I beleive) and a plethora of others in their history.
By: Grey Area - 17th March 2005 at 16:43
I wasn’t aware that Air China had a particularly bad safety record.
Is this the case?
By: Grey Area - 17th March 2005 at 16:43
I wasn’t aware that Air China had a particularly bad safety record.
Is this the case?
By: Bmused55 - 17th March 2005 at 13:10
This article is somewhat soothing:
Swire denies reports it is ready to part with Cathay stake
Thursday March 17, 2005Swire Pacific, parent of Cathay Pacific, yesterday responded to media reports that it is nearing a deal to sell its stake in Cathay to Air China in return for a stake in the latter by saying that it plans to remain as the principal shareholder in Cathay.In a statement to the Hong Kong Stock Exchange, Cathay said it and Air China have made “progress in exploring opportunities for further cooperation, including in relation to the Hong Kong-China aviation market.” The discussions also involve Dragonair. However, Swire Pacific said it “remains committed to being the principal shareholder in Cathay Pacific for the long term” and does not intend to become the principal shareholder of Air China.
By: Bmused55 - 17th March 2005 at 13:10
This article is somewhat soothing:
Swire denies reports it is ready to part with Cathay stake
Thursday March 17, 2005Swire Pacific, parent of Cathay Pacific, yesterday responded to media reports that it is nearing a deal to sell its stake in Cathay to Air China in return for a stake in the latter by saying that it plans to remain as the principal shareholder in Cathay.In a statement to the Hong Kong Stock Exchange, Cathay said it and Air China have made “progress in exploring opportunities for further cooperation, including in relation to the Hong Kong-China aviation market.” The discussions also involve Dragonair. However, Swire Pacific said it “remains committed to being the principal shareholder in Cathay Pacific for the long term” and does not intend to become the principal shareholder of Air China.
By: KabirT - 17th March 2005 at 11:51
Always thought the Chinese govt. will have an itch of not running CX. Not a very bright idea at all!!
By: KabirT - 17th March 2005 at 11:51
Always thought the Chinese govt. will have an itch of not running CX. Not a very bright idea at all!!
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March 17, 2005 at 4:55 am