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 with the 10 floors had been converted into office premises and the top floor occupied by the Cathay Organisation by July 1974. The building was refaced in 1978 with a new look by STS Leong. The original design was shadowed by the new facade. Cathay Building was the location for the first Orange Julius outlet in Singapore, which opened in 1982. In 1990, Cathay Organisation opened Singapore's first arthouse cinema, The Picturehouse adjacent to Cathay Building. The main Cathay cinema was then converted into a two-hall cineplex during that period. In 1999, Cathay announced the S$100 million plans to redevelop