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).
Cathay says that the CAAC was opposed to it being involved with airline-ticketing sales or airport security, major sources of potential revenue. It also considered that the 30-year agreement was too long.
Source: Flight International