The state-owned Gulf carrier said it had acquired a 9.6 per cent stake in Cathay, which would make it the third largest shareholder in the Hong-Kong based airline.
The company posted its first annual net loss in eight years in March, citing intense competition as lower cost airlines, particularly from mainland China, eat into its market share.
National passenger carrier Air India on Monday said that it disagrees with a report published by data services company FlightStats which has ranked the airline as the third worst global performer in terms of on-time operations in 2016.
Five years later, Joyce has largely won over hostile customers, politicians and unions who had called for his head during the national carrier's worst crisis.
All airlines, domestic and global, are hurting from the high fees at Indian airports. Tom Wright, GM - S Asia, Middle East & Africa, Cathay Pacific says that while his company took a nearly 14% knock this year on operating margins from airport fees alone, Cathay is increasing its India footprint and hopes to tap the booming India story.
Hong Kong-based Cathay Pacific on Wednesday asked India to relook into the "high" airport tariffs and said it has no plans to invest in any Indian carrier. "Operating at wafer-thin margins and high airport charges are not going to help the Indian aviation sector in the long-term," Tom Wright, general manager, Cathay Pacific, said.
Samsung Electronics, COSCO Pacific, Ayala Land and Cathay Pacific are some stocks that will fare well even as market volatility and economic uncertainty continue into the second half of the year, according to a report by HSBC Global Research.
Global logistics firm DHL has invested 100 million euros (about Rs 640 crore) in three big freighter aircrafts to enhance its Asia Pacific network.
Boeing Co sealed two deals with Chinese airlines as the world's second-largest economy expects to order more than 2,000 aircraft over the next five years as demand for air services booms.