Air China to slightly reduce stake in Cathay Pacific
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Background ✨
Air China and Cathay Pacific renewed their joint framework agreement for a further three years from 01-Jan-2023, covering codesharing, joint operations, and other cooperative activities. At that time, Air China held a 29.99% stake in Cathay Pacific and Cathay held an 18.13% stake in Air China, though Cathay's interest in Air China was later diluted to 16.26% following Air China's issuance of new A shares in Jan-20231 2.