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Cathay Pacific Airways chief executive Tony Tyler said the airline will favourably consider any proposal by Air China to acquire stakes in other Chinese carriers if it is asked to support such plans.
The airline's existing China strategy is to partner with 17.5 percent-owned Air China in further developing the Hong Kong and Beijing hubs, while wholly-owned unit Hong Kong Dragon Airlines reaches over 20 Chinese cities.
Cathay Pacific and China National Aviation Holding aborted an attempt in September to acquire a stake in China Eastern. It is said that at the time Chinese regulators had blocked the plan from proceeding, and the deal had been driven by China National Aviation Holding. Cathay Pacific would have played a very small part in the venture.
Tyler said the rising fuel surcharges levied to passengers as a result of booming oil prices haven't damped demand.
Tyler said earlier the airline was paying about US$110 a gallon for aviation fuel in the beginning of this month, up nearly 60 percent from $70 a gallon at the start of this year.
Though the airline has hedged about 40 percent of its planned fuel use for this year, fuel surcharges are only able to offset about half of the increased costs, he said.
CargonewsAsia
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