Air China, Cathay Pacific Airways, China National Aviation Co. and CITIC Pacific shareholders approved the proposed realignment that would establish cross-shareholdings between Air China and Cathay and make Dragonair a CX subsidiary. The long-anticipated deal, announced in June (ATWOnline, June 12), must receive regulatory approval. Air China Chairman Li Jiaxiang said the realignment will "create a potent new force in the airline industry."
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