Cathay Pacific and became a successful businessman. Swire later acquired 52% of Cathay Pacific Airways. , the airline is still 45% owned by Swire Group through its subsidiary Swire Pacific Limited, as the largest shareholder. However, Swire Group also formed a shareholders' agreement with the second largest shareholder Air China (which was controlled by state-owned China National Aviation Holding), which Cathay Pacific and Air China had a cross ownership. In the late 1940s, the Hong Kong government divided the local aviation market between Cathay Pacific and its only local competitor, the Jardine Matheson-owned Hong Kong Airways: Cathay Pacific was allocated routes to
Cathay Organisation commercial and residential properties held by its affiliated companies in 1994. Orchard Cinema closed its doors in 1995 for redevelopment. In 1997, Cathay Cineleisure Orchard opened at the former Cathay Cinema site with the 6-screen Cathay Cineplex. That same year, Cathay opened its 6-screen cineplex, Mega Pavilion Cinema in Kompleks Bukit Jambul in Penang, Malaysia. A year later, Mega Pavilion Cinema opened at Megamal Pinang, Penang. Cathay opened a 34 lane bowling alley in Endah Parade, Kuala Lumpur in 1998. The Orchard Cineplex (Hall 3 & 6) and The Picturehouse were named "The Best Screens" in a survey conducted by