Kingboard urges Swire to intervene to revive Cathay Pacific -SCMP

Kingboard Holdings

31/07/2017 03:06

HONG KONG, July 31 (Reuters) - Kingboard Chemical Holdings 
Ltd  0148.HK , the third-largest shareholder in Cathay Pacific 
Airways Ltd  0293.HK , has called on the airline's founding 
Swire family to intervene to lead the carrier out of "hard 
times", the South China Morning Post reported on Monday. 
    In an interview with the newspaper, Kingboard founder and 
chairman Cheung Kwok-wing said he wished someone from the Swire 
family would take temporary day-to-day control to help steer the 
airline's return to profitability. 
    He also said he had expressed interest in buying the 45 
percent stake owned by its principal shareholder, Swire Pacific 
Ltd  0019.HK , but was rejected. 
    Kingboard Chemical had spent HK$3.4 billion to acquire a 9 
percent stake in the airline since December. 
 
 (Reporting by Sijia Jiang) 
 ((annemarie.roantree@thomsonreuters.com; +852 97387151; Reuters 
Messaging: annemarie.roantree.thomsonreuters.com@reuters.net)) 
 
Keywords: CATHAY PACIFIC KINGBOARD CHEM/