The Civil Aviation Administration of China has approved Cathay Pacific Airways' planned two-year lease of three Air China Airbus A340-300s. Cathay has signed the lease, with an announcement confirming the deal expected imminently. The aircraft are Air China's only three A340s, and will join Cathay's 11-strong fleet. The Hong Kong carrier returned to profit in the first half of this year after a slump caused Asia's regional economic collapse in 1997.

Source: Flight International