Cathay Pacific Airways Ltd. and Air China have announced a new shareholder agreement, further solidifying their partnership. Under this New Framework Agreement, dated May 28, 2025, both parties aim to enhance their cooperation to optimize operations and develop Beijing Capital International Airport and Hong Kong International Airport as key hubs. Cathay Pacific holds a 15.09% share in Air China, while Air China holds a 29.98% stake in Cathay Pacific, marking them as connected persons under the Listing Rules. The agreement, considered fair and beneficial by directors of both companies, is subject to shareholder approval and compliance with listing rules in both Hong Kong and Shanghai.
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