Cathay Pacific Airways Ltd., Hong Kong's largest carrier, will invest 1.7 billion yuan ($249 million) in affiliate Air China Ltd's cargo unit as a global economic rebound revives exports in the Chinese mainland. Cathay will control 49 percent of Air China Cargo, including a stake to be held by an offshore trust, following the deal, it said in a statement Thursday. The carrier will inject four Boeing Co 747-400 freighters and two spare engines into the unit to pay for the transaction....
Full Story: China Daily
