Air China to takeover Cathy Pacific?
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Air China to takeover Cathy Pacific?
This just in:-
Cathay Pacific holding merger talks with Air China
Hong Kong airline Cathay Pacific is reported to be holding talks about a merger with mainland national carrier Air China in a deal which would give the two airlines unrivalled coverage of one of the world's fastest growing aviation markets.
Cathay Pacific would not comment on the report but a company source said it was preparing to make an announcement later in the day, reported RTE Business.
The South China Morning Post said the multi-billion dollar deal would see the newly listed Air China take over Cathay Pacific, and the Hong Kong airline's British parent Swire Pacific would then take a large stake in the mainland carrier.
'A deal is very close to being completed,' the paper quoted a senior Swire executive as saying.
The deal would also see Hong Kong's second airline, Dragonair, being taken over first by Cathay Pacific and in turn folded into the new company.
Cathay Pacific is one of the world's top-ranked airlines but Air China has the network in China, the rapidly developing business and tourism market that the Hong Kong carrier views as the future core of its operations.
Cathay Pacific holding merger talks with Air China
Hong Kong airline Cathay Pacific is reported to be holding talks about a merger with mainland national carrier Air China in a deal which would give the two airlines unrivalled coverage of one of the world's fastest growing aviation markets.
Cathay Pacific would not comment on the report but a company source said it was preparing to make an announcement later in the day, reported RTE Business.
The South China Morning Post said the multi-billion dollar deal would see the newly listed Air China take over Cathay Pacific, and the Hong Kong airline's British parent Swire Pacific would then take a large stake in the mainland carrier.
'A deal is very close to being completed,' the paper quoted a senior Swire executive as saying.
The deal would also see Hong Kong's second airline, Dragonair, being taken over first by Cathay Pacific and in turn folded into the new company.
Cathay Pacific is one of the world's top-ranked airlines but Air China has the network in China, the rapidly developing business and tourism market that the Hong Kong carrier views as the future core of its operations.
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The interesting thing about this one is that if Air China and Cathay merge, then Dragonair, Air Macau may also be absorbed - meaning a much larger and more stream-lined airline.
Really for an airline to be the largest in China, let alone Asia, they should be looking for a fleet of upwards 400 aircraft to meet up and coming demand. Interesting times ahead.
Really for an airline to be the largest in China, let alone Asia, they should be looking for a fleet of upwards 400 aircraft to meet up and coming demand. Interesting times ahead.
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Air China's takeover of Cathay
Interesting indeed, I wonder how that affects the combinded cargo operation of Cathay & Dragonair now that the bigger player is in the market, all under one roof or seperate identities??
It gives Air China routes into Europe, sounds a good move, if it all blends in together OK
It gives Air China routes into Europe, sounds a good move, if it all blends in together OK
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Presume the oneWorld connection would continue to exist, particularly as the alliance has often been rumoured to be looking for a Chinese companion as well. Would be good news for them all if this was the case too.
Too mean to buy a long personal title
Though that might involve CA stopping its drift towards *A. Or maybe *A will come in and snaffle up CX instead, though that might have SQ and TG both squealing at the same time.
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The next mega carrier.
Air China will eventually become the largest of all the Airlines and, in my opinion, will be the last of the conventional mega carriers. Once oil hits 200 dollars+ per barrel, as many speculative theories predict, it will mark the end of air travel as we know it. If you are looking for a flying job with reasonable pay, longevity and benefits then, this is the gig for you as no other carrier can possibly go the distance against this company.
