Cathay buys Dragonair to expand routes From: China Daily | Date: June 10, 2006| Author: Hui Chinghoo in Hong Kong and Yin Ping in Shanghai | Copyright 2006 China Daily. Provided by ProQuest LLC.Copyright information

Hong Kong airline Cathay Pacific is buying its rival Dragonair for HK$8.22 billion (US$1.05 billion) to expand its flight network on the Chinese mainland.

Cathay Pacific currently operates just two passenger routes between Hong Kong and the mainland. It will now be able to take over Dragonair's 23 mainland routes.

As part of the deal, Cathay will also spend HK$4.7 billion (US$605.5 million) to double its stake in Air China to 20 per cent. In return, Air China will pay HK$5.39 ...

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