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 was converted back to a cinema and a hotel. The cinema was the first to show American and British films in Singapore. A new air-conditioning plant was installed in the building in 1948. The colonial government vacated the building to be returned to the Cathay Organisation. The Cathay Restaurant was officially reopened on 1 May 1948 under the management of Cathay Restaurant Ltd. In 9 January 1954, the building reopened as Cathay Hotel with 60 rooms and subsequently expanded to 170 rooms. It had a restaurant, nightclub, swimming pool and shopping arcade. Cathay Hotel was closed on 30 December 1970,