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 the first cineplex to introduce 24-hour movie screening in Singapore. Hangout Hotels was incorporated in this same year and opened its first "no frills, just fun" concept hotel; hangout @ mt emily. Cathay ACEL was renamed Cathay Ed-Ventures Pte Ltd in 2004 and shareholding was increased to 95% stake. Cathay Ad-House Pte Ltd was formed to provide advertising and marketing to the group's business units. More new initiatives were introduced by Cathay Cineplexes. A 24-hour movie express automated ticketing kiosk was opened at Orchard MRT Station and dispenses movie tickets at time of purchase. Cathay Cineplexes also introduced the first