Cathay drops out of Xiamen Airport joint-venture plan

1995-12-20T00:00:00

CATHAY PACIFIC Airways has pulled out of a proposed joint-venture deal to develop and manage China's Xiamen International Airport, in Fujian. The Hong Kong carrier scrapped its planned HK$366 million ($47.5 million) investment after resistance from the Civil Aviation Authority of China (CAAC).

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