Air China says plans to takeover Cathay Pacific not ‘on the agenda’

    Air China independent non-executive director Stanley Hui Hon-chung said a takeover of Cathay Pacific Group by the carrier is not “anywhere on the agenda, no way”, so as not to frighten off foreign investment (South China Morning Post, 09-Sep-2019). He said: “Air China is an investor, but we have every confidence in the management of the Swire Group, and the airline, and that has been proven with the success of the airline over the years”. Air China holds a 29.9% stake in Cathay Pacific, the maximum a single party can own of a publicly listed company in Hong Kong. Air China has four representatives on Cathay’s board. Cathay holds an 18.13% stake in Air China and has one board seat.