A joint statement released yesterday by Cathay Pacific Airways and Air China and investors Swire Pacific, China National Aviation Co. and CITIC Pacific confirmed reports that "discussions are taking place about operational cooperation" between CX and Air China and "realignment of shareholdings" in the two airlines and Dragonair, the Hong Kong carrier owned jointly by CNAC (43.3%), CITIC (28.5%), Cathay (17.8%) and Swire (7.7%). There has been talk of Cathay's increasing its stake in ...

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