In January 1990, Cathay Pacific, Swire Group and CITIC Pacific acquired an 89 percent
In January 1990, Cathay Pacific, Swire Group and CITIC Pacific acquired an 89 percent stake in the airline, with CITIC Pacific holding 38 percent; while the family of the airline's chairman Kuang-Piu Chao reduced their holding from 22 percent to 6 percent, with the remainder held by minor shareholders. The change of ownership saw Cathay Pacific transferring its Beijing and Shanghai routes to Dragonair, along with a Lockheed L-1011 TriStar on a lease basis.
That's TWENTY FOUR YEARS AGO!