Cathay Pacific raises stake in Air China to 19.18% vs 19.05%
Cathay Pacific Airways Ltd. confirmed Friday it raised its stake in Air China Ltd. to 19.18% from 19.05% to reduce the dilutive impact on its shareholding after the Chinese flag carrier completes an issue of new shares in Hong Kong.
Cathay Pacific has reported a 12% boost in passenger numbers in May compared to the same month in 2009, with figures significantly improved because of a strong demand on routes to mainland China for the Shanghai Expo.