The much-anticipated change in shareholder structure among Cathay Pacific Airways, Dragonair and Air China announced Friday by owners Swire Pacific, CNAC and CITIC Pacific is set to create the most powerful airline group in Asia. Under the agreement, which is subject to shareholder approvals, Dragonair will be wholly owned by Cathay Pacific and Air China will acquire a 17.5% stake in CX, which in turn will double its holding in Air China to 20%. Swire will remain the principal long-term ...

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