Cathay Pacific to take over Dragonair
June 9, 2006 by SwizStick
Filed under Uncategorized
Again, via Air Cargo World:
Cathay Pacific Airlines, the Hong Kong firm that is already one of the world’s largest cargo carriers, said it will take over rival Dragonair in a complex deal that reshapes China’s aviation market and lays the groundwork for new cargo operations.
Cathay already owns 17.8 percent of Hong Kong’s Dragonair, but the smaller firm is mostly owned by a subsidiary of Beijing’s Air China.
Although Cathay is a major international carrier, it currently can connect to mainland China from Hong Kong only at Beijing and Xiamen, but Dragonair has more than 20 routes to mainland cities, so the deal greatly boosts Cathay’s links to the fast-growing China market.
I’ve flown Dragonair a couple of times to China via Cathay Pacific-HKG and always felt it was a solid airline. This deal will further cement Cathay Pacific’s growing role in mainland China’s airline market.
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China Law Blog on Thu, 15th Jun 2006 9:30 pm
I agree this is good news for China air travelers.