This probably complements the rumour about Air China Cargo, China Cargo and Dragonair Cargo, which was going around recently (see post below); CX will be taking over the pax operations (subject of course to the announcement).
Nice to see A320/321s in CX colours; these will be the first narrowbodies CX has operated since the old 707s were phased out 20 years ago.
CX will also be the biggest operator, by a considerable distance, of A330s, with KA's 15 (+1 on order) joining CX's 330s (26, +3 on order).
Hopefully it will be a pleasant transition for all involved.