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 Building the whole complex. Cathay Building and the Picturehouse would showed its last movie in 2000 before closing for redevelopment. The front facade of its theatre building structure was gazetted as a national monument for conservation on 10 February 2003, while the rest of the building structure was later demolished. Thus the new building incorporated conservation of the original art-deco façade of the 1939 and combined together with a modern-day design by Paul Tange of Tange Associates Japan and RDC Architects Pte Ltd Singapore. The Cathay as it is currently known, was opened on 24 March 2006. The building houses retail,