Air China to acquire Cathay Pacific Airways

[Surfcrest]

Air-China-to-acquire-Cathay-Pacific-Airways-Breaking-News-Corporation-China-5.jpg

Air China to acquire Cathay Pacific Airways

Cathay Pacific returns to China after 71 Years !

Reliable sources at Cathay Pacific told Corporation China that Air China will acquire Cathay Pacific Airways
The Announcement will be only be released Tomorrow
Corporation China try to reach John Slosar, chairman of Cathay Pacific Airways for comment but was unable to get a confirmation.
The History of Cathay Pacific is that American Roy C Farrell and Australian Sydney H de Kantzow founded Cathay Pacific Airways on 24 September, 1946. Initially based in Shanghai, the two men eventually moved to Hong Kong and established the airline.
Air China owns 30% of Cathay Pacific as present ans said to obtain more shares from Swire that owns 45% at present. Cathay just announced a major strategic review after market today.

http://www.corporationchina.com/blog...breaking-news/

[fountainhall]

I suggest a question mark would have been appropriate at the end of the title. This is 99.99% FAKE NEWS! Just look at the atrocious wording of the so-called "announcement". Further it was made on January 18 promising an announcement on the 19th. What happened to the announcement? Nuttin'!

The whole idea seems a figment of someone's imagination! Both Cathay Pacific and Air China have flatly denied the gossip.

Air China and CX have a close relationship with some degree of cross shareholding. But Air China simply could not operate CX because Hong Kong's Basic Law would require it to be to be based in Hong Kong. That's precisely the reason why Jetstar Hong Kong failed to get off the ground - it was refused a licence despite very extensive lobbying in Hong Kong and Beijing by China Eastern Airlines which was one of Jetstar Hong Kong's major shareholders.

Perhaps the photo of the CX 747-400 was indicative of the article's lack of veracity. The last CX 747-400 passenger flight took place months ago!! LOL

[werner]

I hope that this is NOT true. Cathay Pacific has always been one of my favorite airlines.

[fountainhall]

As I mentioned in my post, it's fake news. 15 days have already passed since the so-called "announcement" and nothing has happened. It's not going to happen.

[Ronnie]

This announcement was made the very next day:
http://blogs.barrons.com/asiastocks/...ir-china-sale/

[fountainhall]

If you read that article, it's perfectly clear it has nothing to do with the fake news spread in the fake article. The announcement confirms that Air China will NOT be raising its stake in CX!

Also disappointing investors is Cathay’s denial that Air China will raise its current 30% stake.

[scottish-guy]

Well, that's a relief - I'm sure rational people been sweating over this story for over 3 months

[fountainhall]

Well, that's what happens these days with fake news!