Swire 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 ...

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