Air Transport World

Cathay Pacific.

Cathay Pacific withdrew, at least for the present, from talks about a possible investment in Philippine Airlines, after significant obstacles became clear, most importantly, controlling PAL shareholder Lucio Tan's refusal to cede management control, a key Cathay demand.

Cathay's pulling out has been marked by a flurry of rumors/reports about other initiatives to save the beleaguered carrier. …

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