Citic Pacific sells 14.5% stake in Cathay Pacific to Air China and Swire Pacific
Air China and Swire Pacific will buy a majority of Citic PacificÆs 17.49% stake in Cathay Pacific, in a deal worth $942 million.
August 17, 2009
After a spring of consistently dire outlooks for the airline industry, Cathay Pacific Airways has turned a profit on one-time gains, while Singapore Airlines slipped further into the red.
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