TransportationChinese carrier's move is 'tactical,' the Hong Kong flag carrier's CEO saysAir China and Cathay Pacific have maintained a cross-shareholding arrangement for the past two decades. (Source photos by Reuters) KENJI KAWASEJanuary 6, 2026 19:14 JSTTOKYO -- Air China, the country's major state-owned carrier, on Tuesday said it will sell part of its stake in Cathay Pacific, apparently to avoid breaching the 30% threshold under Hong Kong's takeovers code.