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 of the 1980s, Cathay Organisation rationalised its cinema business, selling out their cinema operations in Malaysia. In Singapore, Cathay closed the only drive-in cinema in Jurong and chose to move with the trends and operated only cineplexes. It converted its stand-alone cinemas into multi-screenswhere. In 1990, Cathay opened The Picturehouse, Singapore's first arthouse cinema and the following year, Cathay Cinema was converted into a 3 screen cineplex. The 1990s saw Cathay Bowl opening bowling alleys in major parts of the island. Cathay Properties was incorporated, providing property management and maintenance services for facilities operated by Cathay itself, as well as