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 de Grande name at the Cathay after going by the name Tony Flow and the Miraculously Majestic Masters of Mayhem for their two previous performances at another Hollywood club. They would play the Cathay a few times during their first tour in 1983 and once in 1984. Other bands who frequently played the Cathay included The Minutemen, Bad Religion, Tex and the Horseheads, Dr. Know, The WILD, Entropy, along with regulars from Orange County Social Distortion, T.S.O.L., The Vandals, Agent Orange and Love Canal. The Knitters played their first gig at the Cathay. The Cathay was dubbed by one newspaper in 1984