Cathay moves to block SQ’s China foray
HONG KONG – Cathay Pacific has moved to foil the attempt by Singapore Airlines to take a 24 percent stake in China Eastern, China’s No 3 airline.
A day before China Eastern shareholders were due to vote on the Singapore Airlines/Temasek joint bid, Cathay said it would consider joining Air China in a higher rival bid.
Air China’s parent, China National Aviation Corp (Group) Ltd (CNACG), has been looking to block the US$920 million Singapore Airlines bid and believes a Cathay-Air China partnership would be its best option.
Analysts at the Centre for Asia Pacific Aviation said, “Any CNACG-led bid – which Cathay Pacific and Air China would almost certainly join – would result not in the turnaround of China Eastern over the long-term, but its likely absorption and disappearance.
“At stake is the crucial Shanghai hub, where Air China is seeking to build its presence, and the highly lucrative Hong Kong-Shanghai route, which will liberalise from the end of March 2008 under the recently expanded Hong Kong SAR-Mainland bilateral air services agreement.”
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025