Cathay Pacific reaches deal to take over Hong Kong Dragonair

Cathay Pacific has reached a deal with the other owners of rival Dragonair in a takeover worth billions of HK dollars, which is expected to be announced Friday in a joint press conference, according to the Hong Kong Dragonair.

The takeover will give Cathay Pacific an expanded market presence in the Chinese mainland, where it currently has only two routes.

Source: Xinhua