Cathay Pacific increases stake in Air China; ICICI acquires 5.7% of Kingfisher

Cathay Pacific Airways has increased its stake in Air China from 18.43% to 18.77%, paying approximately USD5.2 million for 5.48 million shares in the carrier. There is extensive cross-shareholding between the carriers, with Air China owning almost 30% of the Hong Kong-based airline as of the end of 2010, behind Swire Pacific, which held 43%. Shares in Cathay Pacific were down 0.1%, while Air China shares closed 1.6% lower.